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Published on 11/16/2023 in the Prospect News High Yield Daily.

Qurate Retail notes, CDS spreads improve in November; Enviva drops; DISH trades down

By Cristal Cody

Tupelo, Miss., Nov. 16 – Qurate Retail Inc., a West Chester, Pa.-based home shopping network owner formerly known as Liberty Interactive LLC, has been seeing something of a revival so far in November, sources reported on Thursday.

Qurate Retail's 8¼% senior notes due 2030 (Caa2/CCC-) were trading on Thursday more than 10 points better since the start of the month.

The bonds were quoted at 38¾ bid on $5.4 million of secondary action.

The company’s credit default swap spreads also came in more than 300 basis points this week.

Enviva Partners, LP’s 6½% senior notes due 2026 (Caa2/CC/CC) continued to dominate secondary action over the session.

The bonds slid 8¼ points to 44¼ bid and a 52.74% yield on $27 million of paper changing hands, a source said.

DISH Network Corp.’s 7¾% senior notes due 2026 (Caa2/B-) saw heavy movement in the distressed space on Thursday. The bonds gave back more than 1 point to a 60 bid handle on $16.6 million of trading, a source said.

DISH’s 5 1/8% senior notes due 2029 (Caa2/B-) also fell over ¼ point to around 47 bid on $5.7 million of volume.


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