Digicel plummets as exchange offer starts; Diebold falls after credit agreement amended

By James McCandless

San Antonio, Sept. 4 – A short week in trading in the distressed debt market saw the focus remain largely on names that saw the most attention last week.

Digicel Group Ltd.’s notes plummeted Tuesday. On Friday, the company announced an exchange offer for certain notes, leading to a ratings downgrade.

Diebold Nixdorf, Inc.’s issues also declined. On Thursday, the company announced that it had amended its credit agreement.

Sanchez Energy Corp.’s paper fell as energy names continue to see more volume amid a tumultuous time in the energy sector.

Intelsat SA’s notes started the short week mixed. A subsidiary recently priced a $1.25 billion issue of senior notes.

Frontier Communications Corp.’s issues were also mixed. A disappointing second-quarter earnings report fell short of analyst estimates and led to a ratings downgrade.

Community Choice Financial Inc.’s notes declined on increased attention.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.