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Diamond Sports up; Bed Bath & Beyond slides; Exela down; PBF better; Shimao, Sunac soft
By Cristal Cody
Tupelo, Miss., Jan. 7 – Diamond Sports Group LLC’s notes traded up less than 1 point on Friday as the most active distressed issuer seen over the session.
“There’s not a lot of outperformers,” a source said. “It’s been pretty quiet. Diamond Sports was up maybe ¾ point.”
Diamond Sports’ 5 3/8% senior secured notes due 2026 (Caa1/CCC) headed out at 50 bid on $13 million of secondary supply.
Bed Bath & Beyond Inc.’s bonds have slid 8 points this week following a disappointing third-quarter earnings announcement, a source said.
The 5.165% notes due 2044 (B1/B+) fell nearly 3 points to 74 bid on Friday on $9 million of paper traded.
Exela Technologies, Inc.’s 11½% first priority senior secured notes due 2026 (Caa3/CCC-) also were down 2 3/8 points to 70 bid on Friday, sources said.
Energy paper mostly quieted as oil prices softened.
PBF Energy Inc.’s paper was quoted about ½ point higher on the day.
In other distressed trading, Shimao Group Holdings Ltd.’s notes sold off on reports the company failed to make a debt payment.
Shimao’s 4¾% notes due 2022 (B) slid 3 5/8 points to 45 3/8 bid, a source said.
Sunac China Holdings Ltd.’s 7.95% notes due 2022 (B1/B) dropped 2 5/8 points to 71 7/8 bid.
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