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Published on 7/16/2021 in the Prospect News High Yield Daily.

Talen up; Nine Energy, Peabody higher; PBF drops; Diamond Sports better; Endo mixed

By Cristal Cody

Tupelo, Miss., July 16 – Talen Energy Supply LLC’s bonds recovered further on Friday but remain firmly in the distressed space after plunging in June.

Talen’s 10½% notes due 2026 (B3/CCC+/B) rose ½ point by the close to 66¾ bid on $5 million of trading volume.

Talen and Nine Energy Service, Inc. reported losses or other impacts from the winter storm that hit Texas and the central and southern United States in February.

Nine Energy’s 8¾% notes due 2023 (Caa2/D) rallied 1 point to 60 bid on $5 million of trading action Friday.

Peabody Energy Corp.’s 6 3/8% senior secured notes due 2025 (Caa1/D) improved more than 1 point to head out in the 78 bid area.

PBF Holding Co. LLC’s 6% senior notes due 2028 (B3/B+/B+) dropped 4½ points to 56 bid in late afternoon trading on $3 million of volume.

Meanwhile, Diamond Sports Group LLC’s 6 5/8% senior notes due 2027 (Caa2/CCC-) rose ¾ point to 43 bid on more than $4 million of secondary volume, a source said.

Endo Finance LLC’s paper was mixed with the 6% senior notes due 2028 (Caa2/CCC+) up ½ point to 60 ¾ bid on $2 million of secondary volume.


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