Exela higher; Diamond Sports mixed; Peabody, Transocean improve; GTT weaker; CBL up

By Cristal Cody

Tupelo, Miss., July 1 – Exela Technologies, Inc.’s bonds continued to climb in heavy secondary supply on Thursday after the Irving, Tex.-based software and services company completed a $100 million at-the-market equity program.

Debt issuer Exela Intermediate LLC’s 10% senior secured first-lien notes due 2023 (Caa3/CCC-) rose about 4¾ points to 68½ bid, a source said.

Meanwhile, Diamond Sports Group LLC’s bonds gave back some gains made Wednesday. The 5 3/8% senior secured notes due 2026 (B2/CCC+) fell about ¾ point on Thursday to 64 bid.

Looking at the distressed energy space, Peabody Energy Corp.’s 6 3/8% notes due 2025 (Caa1/CCC) improved more than ¾ point to trade better than 74¾ bid going out, a market source said.

Transocean Inc.’s 7½% senior notes due 2026 (Ca) rallied 1¾ points to 88¼ bid.

In other distressed secondary activity, GTT Communications, Inc.’s 7 7/8% senior notes due 2024 (/C/) traded Thursday in the 10 bid area, down about 3 points from June, according to a market source.

Elsewhere, bankrupt real estate investment trust CBL & Associates LP’s 5¼% notes due 2023 rose ¼ point in strong trading activity to 56¾ bid.

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