Intelsat notes lower after C-band news; Navios issues rise as exchange offer extended

By James McCandless

San Antonio, March 5 – The Tuesday session in the distressed space saw more focus on telecom and energy names.

Intelsat SA’s notes moved lower as the government’s mood on C-band soured.

Sector peer Digicel Group Ltd.’s issues were gaining as the company planned a senior secured note offering.

In shipping, Navios Maritime Holdings Inc.’s paper was on the rise as the company again extended an exchange offer for two series of preferred shares.

Mixed oil futures led to similarly mixed movement for California Resources Corp.’s notes while Sanchez Energy Corp. and Weatherford International plc’s issues declined.

Amid a clash with a large investor, retailer L Brands, Inc.’s paper improved.

Elsewhere in retail, Revlon, Inc.’s notes saw a drop as Neiman Marcus Group, Inc.’s paper moved higher.

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