Transocean, Nabors, Diamond Sports, AMC higher; Washington Prime dips; Intelsat flat

By Cristal Cody

Tupelo, Miss., April 14 – Distressed energy bonds headed higher in the secondary market as oil prices soared on Wednesday.

Offshore driller Transocean Inc.’s 7½% senior notes due 2025 (Ca/CCC) added more than 2¼ points to 70 bid.

Oil and gas drilling contractor Nabors Industries Inc.’s 7¼% senior notes due 2026 (Caa1/CCC-) traded up 1 3/8 points to 86¾ bid.

Meanwhile, Diamond Sports Group LLC’s 6 5/8% senior notes due 2027 (B3/CCC-) recovered 1½ points to 47 bid on $10 million of issues traded.

AMC Entertainment Holdings, Inc.’s 12% second-lien senior secured notes due 2026 (Ca/C) traded nearly 2 points higher at the 89 bid area on $9 million of volume.

Washington Prime Group, LP’s 6.45% notes due 2024 (C/D/C) fell just under 1 point to 61 bid.

Separately, Intelsat Jackson Holdings SA’s 5½% senior notes due 2023 were unchanged at 61½ bid.

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