Diebold soars on reports of hiring advisers; PHI issues decline as company extends tender

By James McCandless

San Antonio, Aug. 13 – The distressed debt market saw volume center around newsworthy names to start the week in trading.

Diebold Nixdorf, Inc. notes shot up on reports that the company is in the early stages of finding a buyer after a poor Q2 earnings report.

PHI, Inc. issues declined as the company extended tender offers for its senior notes due 2019. Last week, the company reported an earnings loss.

Sanchez Energy Corp. paper declined again. The company missed analyst predictions in a recent Q2 earnings report.

Intelsat SA notes were mixed again. Recently, a subsidiary priced a $1.25 billion offering of senior notes.

Frontier Communications Corp. issues were also mixed. Recently, the company released a disconcerting earnings report.

Rite Aid Corp. paper fell. A potential merger with grocery chain Albertsons was canceled last Thursday.

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