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Staples paper moves higher; WW notes jump in trading rush; DISH bonds improve
By Cristal Cody
Tupelo, Miss., Dec. 6 – Bonds from Staples Inc. and WW International Inc. climbed in strong secondary trading on Wednesday.
Staples’ 10¾% senior notes due 2027 (Caa2/CCC) added another point over the session and were trading more than 10 points better since its third-quarter earnings report in the prior week.
The bonds went out at 68 bid and yielding 25.48% on more than $14 million of secondary action, a source said.
WW’s 4½% senior secured notes due 2029 (B3/B) saw the strongest action over the session with the bonds rallying 2¾ points on more than $23 million of paper traded, according to a market source.
The issue went out at 59 bid with a yield of 16.25%.
In other distressed paper, DISH Network Corp.’s 7¾% senior notes due 2026 (Caa2/B-) improved on Wednesday after shedding about ½ point on Tuesday.
The bonds were last seen 1¾ points stronger at 61½ bid on about $6 million of activity, a source said.
DISH’s 5 1/8% senior notes due 2029 (Caa2/B-) added more than ¾ point to reach 46 bid over the session in lighter supply totaling $3.5 million.
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