Peabody, Talen bonds decline; Washington Prime flat; Intelsat Jackson down; Endo drops

By Cristal Cody

Tupelo, Miss., July 12 – Peabody Energy Corp.’s 6 3/8% senior secured notes due 2025 (Caa1/D) softened on the heels of the company’s S&P Global Ratings downgrade on Monday.

The notes fell ½ point to 77 bid by the close, a source said.

Talen Energy Supply LLC’s bonds traded down another 1½ points to 3 points on Monday, a source reported.

Talen’s 7¼% senior secured notes due 2027 (Ba3/BB-/BB) fell 2 points to 86½ bid on more than $18.9 million of paper traded.

The company’s 6½% senior notes due 2025 (B3/CCC+/B) also sank 3 points to 55 bid on $10 million of trading activity Monday.

Washington Prime Group, LP’s 6.45% notes due 2024 (C/D/CC) were flat late afternoon at 66 bid following the bankrupt company’s disclosure statement hearing, a source said.

Intelsat Jackson Holdings SA’s 5½% senior notes due 2023 softened ½ point to 55½ bid after the company’s Chapter 11 bankruptcy statement hearing was adjourned.

Endo Finance LLC’s bonds remained soft in heavy distressed secondary trading Monday, a source said.

Endo’s 6% senior notes due 2028 (Caa2/CCC+) slipped nearly 1 point to 59 7/8 bid on $15.5 million of trading volume.

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