Diebold notes jump as rescue loan secured; J.C. Penney improves after week of bad news

By James McCandless

San Antonio, Aug. 27 – At the start of the week in distressed debt trading, news-driven names were at the top of trading.

Diebold Nixdorf, Inc. notes gained after the company announced that it had secured a $650 million rescue loan from two institutional lenders.

J.C. Penney Co., Inc. issues improved despite last week’s torrent of negative attention spurred on by a recent disappointing earnings report.

Sanchez Energy Corp. paper rose. The company didn’t meet analyst expectations in a recent second-quarter earnings report.

Intelsat SA notes were mixed to start the week. A subsidiary recently priced a $1.25 billion issue of senior notes.

Frontier Communications Corp. issues were also mixed. A recent second-quarter earnings report did not meet analyst predictions.

Rite Aid Corp. paper gained. The company recently canceled a potential merger with grocery chain Albertsons.

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