Washington Prime up; Mallinckrodt mixed; Endo lower; Talen rallies; Diamond Sports down

By Cristal Cody

Tupelo, Miss., June 16 – Washington Prime Group, LP’s paper continued to tread higher over Wednesday’s session following the company’s weekend Chapter 11 bankruptcy filing.

The 6.45% notes due 2024 (C/D/CC) added 1¼ points to 76¼ bid, a source said.

Elsewhere, bankrupt pharmaceuticals maker Mallinckrodt plc’s paper was mixed after the company filed a new joint Chapter 11 plan of reorganization and received conditional approval of its disclosure statement, a source reported.

Mallinckrodt’s 5 5/8% notes due 2023 jumped 3¼ points to 68 bid on $2 million of trading supply.

Also in the distressed pharmaceuticals space, Endo Finance LLC’s 6% senior notes due 2028 (Caa2/CCC+) softened 3/8 point to 66 3/8 bid over the day.

Looking at distressed energy issues, Talen Energy Supply LLC’s bonds rallied about 1½ points to 5¾ points in heavy trading action on Wednesday, a source said.

The 6½% senior notes due 2025 (B3/CCC+/B) jumped 4¾ points to 70¼ bid on more than $8.5 million of secondary volume.

Talen’s 10½% notes due 2026 (B3/CCC+/B) added 5¾ points to trade at 74¼ bid on nearly $12 million of supply.

Meanwhile, Diamond Sports Group LLC’s 6 5/8% senior notes due 2027 (Caa2/CCC-) fell 3 points in trading on Wednesday to 51½ bid on more than $3.5 million of secondary volume, a source said.

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