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DISH bonds stronger; iHeartCommunications’ secured notes rally; Enviva paper unchanged
By Cristal Cody
Tupelo, Miss., Dec. 13 – Two tranches of bonds from DISH Network Corp. climbed over ½ point to more than 1¼ points on nearly $30 million of trading on Wednesday.
The 7¾% senior notes due 2026 (Caa2/B-) improved more than 1¼ points to 66½ bid on $12.1 million of volume after DISH reported it expects to close its merger with EchoStar Corp. as soon as this week, a source said.
iHeartCommunications, Inc.’s paper went out mixed after modest gains in the prior session following news that Liberty Media Corp. and Sirius XM Holdings Inc. will merge to create a new public media firm.
The company’s 6 3/8% senior secured notes due 2026 (Caa1/B+) climbed 2¼ points and were trading more than 3 points better week to date, a source said. The bonds were quoted at 83 bid on $7.52 million of volume.
iHeartCommunications’ 8 3/8% senior notes due 2027 (Caa3/CCC+) slipped about ½ point to around 58½ bid on $7.2 million of trading over the day and have dropped about 1½ points since Monday.
In other distressed paper, Enviva Partners, LP’s 6½% senior notes due 2026 (Caa2/CC/CC) have settled in the 40s range since plunging more than 40 points in November.
The bonds were unchanged at 48¼ bid on $6 million of volume, a source reported.
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