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Envision, Team Health, ASP AMC decline; NGL, Transocean, Talen up; Diamond Sports lower
By Cristal Cody
Tupelo, Miss., Oct. 15 – Distressed bonds in the health care space remained under pressure on Friday after trending lower over much of the week’s post-holiday secondary trading.
Envision Healthcare Corp.’s 8¾% senior notes due 2026 (Ca/CC) fell over 1 point to the 71 bid area on over $3 million of volume, a source said.
Team Health Holdings, Inc.’s 6 3/8% senior notes due 2025 (Caa3/CCC) traded 1 3/8 points weaker at 87 bid.
ASP AMC Intermediate Holdings Inc.’s paper ended 1¼ points lower on the day and 4¼ points down on the week.
Subsidiary ASP AMC Merger Sub Inc.’s 8% senior notes due 2025 (Caa3/CCC) softened to 86¼ bid.
The session stayed fairly active, according to market sources.
Energy issues were mostly higher with NGL Energy Partners LP’s 7½% senior notes due 2026 (Caa1/CCC+) quoted up more than 3 points and trading better than 91 bid.
Transocean Inc.’s 8% debentures due 2027 (Ca/CCC+) picked up 2¼ points on over $5 million of volume to head out at 81 bid.
Talen Energy Supply LLC’s 6% senior notes due 2036 (B3/CCC/B-) jumped 4 points to 44½ bid.
Meanwhile, Diamond Sports Group LLC’s 6 5/8% senior notes due 2027 (Ca/CC) shed 1¾ points to finish at 35 bid.
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