| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers E > Headlines for Exela Technologies Inc. > News item |
Talen mixed in heavy distressed supply; PBF, Cooper-Standard higher; Exela improves
By Cristal Cody
Tupelo, Miss., April 1 – Talen Energy Supply LLC’s bonds traded heavily on Friday as news reports emerged the company was in talks with lenders for a possible bankruptcy.
Talen’s bonds were mixed on the “restructuring” news with more than $100 million of overall volume seen, a source said.
Talen’s 6½% senior notes due 2025 (Caa2/CCC/CCC) traded 1 point better at 23½ bid, while the 10½% senior notes due 2026 (Caa2/CCC/CCC) fell over 2 points to 23 3/8 bid by the day’s end.
Talen’s credit default swap spreads moved out more than 5,200 basis points in the past week.
Oil prices were flat to softer with distressed energy issues including from PBF Energy Inc. about 1¼ points higher in light trading, a source said.
“It’s pretty slow,” a source said of the distressed space on Friday and much of the week. “There’s been some movement but not too much.”
Cooper-Standard Automotive Inc.’s 5 5/8% senior notes due 2026 (Caa2/CCC) moved 2¼ points higher to 55½ bid with over $10 million of volume seen.
Exela Technologies, Inc.’s 11½% first priority senior secured notes due 2026 (Caa3/CCC-) traded over 1 point better on Friday at 48¼ bid after softening on Thursday, a source said.
© 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.