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Diamond Sports mixed; Ligado steadies; Talen, Peabody gain; Washington Prime declines
By Cristal Cody
Tupelo, Miss., June 23 – Diamond Sports Group LLC’s bonds went out mixed on Wednesday following parent company Sinclair Broadcast Group, Inc.’s Monday disclosure of attempts to secure new funding for the Chesapeake, Va.-based sports broadcast group.
The company’s 5 3/8% senior secured notes due 2026 (B2/CCC+) slipped ¾ point to 66¾ bid on $29.5 million of bonds traded on Wednesday, a source said.
Ligado Networks’ paper traded mostly unchanged over the day following the company’s ratings outlook change to negative.
Ligado’s 17½% notes due 2024 (Caa1) were flat at 76½ bid after trading down ¼ point on Tuesday.
In the energy space, Talen Energy Supply LLC’s bonds climbed over 1 point in secondary trading during the session, a source reported.
Talen’s 10½% notes due 2026 (B3/CCC+/B) improved 1¼ points to 81 bid on $2 million of trading volume.
Peabody Energy Corp.’s 6 3/8% notes due 2025 (Caa1/CCC) gained ¾ point to 73½ bid in strong trading on Wednesday, a source said.
In other distressed secondary action, Washington Prime Group, LP’s 6.45% notes due 2024 (C/D/CC) traded going out Wednesday at the 69 bid area, down from the 71½ bid area in the prior session, a source said.
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