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GTT bonds active; W&T softens; Talen trades higher; Peabody flat; Washington Prime up
By Cristal Cody
Tupelo, Miss., July 13 – GTT Communications, Inc.’s bonds traded heavily on Tuesday after the company reported it received additional deadline extensions to release its financial reports.
GTT’s 7 7/8% senior notes due 2024 (D) added ½ point to head out at 11½ bid, a source said.
In the distressed energy space, W&T Offshore Inc.’s 9¾% senior secured notes due 2023 (Caa2/B) fell about ¼ point to 97¾ bid, according to a market source.
Talen Energy Supply LLC’s bonds improved after remaining weak during Monday’s session.
Talen’s 7¼% senior secured notes due 2027 (Ba3/BB-/BB) added 1¼ points to 87¾ bid Tuesday after dropping 2 points at the week’s start, a source said.
The company’s 6½% senior notes due 2025 (B3/CCC+/B) jumped 3½ points to 58½ bid.
Peabody Energy Corp.’s 6 3/8% senior secured notes due 2025 (Caa1/D) steadied on Tuesday and went out mostly flat at 77 bid.
Elsewhere, Washington Prime Group, LP’s 6.45% notes due 2024 (C/D/CC) rose ¾ point to 66¾ bid in strong supply on Tuesday, a market source said.
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