| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers T > Headlines for Talen Energy Supply LLC > News item |
Talen rebounds; PBF paper higher; energy up in thin trading; Peabody, Transocean quiet
By Cristal Cody
Tupelo, Miss., Aug. 23 – Talen Energy Supply LLC’s bonds were on the mend on Monday after sinking about 10 points in the prior week following a downgrade by S&P Global Ratings.
“It felt like a little bit of short covering,” a source said. “There was some talk there might be new money needed in the name – that spooked people last week, but today, commodities were red hot.”
Talen’s 10½% senior notes due 2026 (B3/CCC/B-) picked up 2 points to trade at just under 45 bid.
PBF Holding Co. LLC’s paper has “been under pressure for the last couple of weeks” but was seen as much as 3 points better on Monday in a handful of trades, a source said.
PBF’s 9¼% senior secured notes due 2025 (Ba3/BB/BB) headed out 1¾ points better at 91½ bid.
Energy bonds improved as equities gained and oil prices climbed more than $3 in the risk-on session, but trading was thin.
“There just weren’t many offers,” a source said.
Peabody Energy Corp.’s paper was quiet on Monday while the coal miner’s stock jumped 8.77%.
Peabody’s 6 3/8% senior secured notes due 2025 (Caa1/D) were last seen Friday about 2½ points softer at 74 bid.
Transocean Inc.’s 7½% notes due 2026 (Ca/CCC+) were active Friday in thin trading at the 69 bid area.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.