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Enviva notes edge back from plunge; CommScope moves lower; Level 3 paper rallies
By Cristal Cody
Tupelo, Miss., Nov. 10 – Enviva Partners, LP’s 6½% senior notes due 2026 (B3/CC) took back 4¼ points in secondary trading on Friday after plunging over 30 points in the prior session.
The bonds were quoted at 36¾ bid and a 64.43% yield on $15.56 million of volume over the afternoon.
CommScope Holding Co., Inc.’s 6% senior notes due 2025 (Caa1/CCC+) also declined another 1¾ points after giving back 1 point the previous day.
CommScope Technologies LLC’s 6% senior notes due 2025 (Caa1/CCC+) dropped 1¾ points to 76¼ bid on $20.7 million of activity on Friday, a source said.
The issue fell 1 point on Thursday on $29 million of trading.
In other distressed paper, Level 3 Financing, Inc.’s bonds rallied across numerous tranches in active secondary trading on Friday, a source said.
The company’s 3 5/8% senior notes due 2029 (B3/CCC+/CCC+) climbed 7 points to 76½ bid on $7.8 million of trading.
Level 3’s 4¼% senior notes due 2028 (B3/CCC+/CCC+) jumped 8 points to 42½ bid on $8.93 million of volume.
The 3¾% senior notes due 2029 (B3/CCC+/CCC+) rose 3 points to 37 bid on $10 million of volume.
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