Exela gains; Talen, PBF lower; Endo declines; Mallinckrodt better; Diamond Sports mixed

By Cristal Cody

Tupelo, Miss., July 2 – Exela Technologies, Inc.’s bonds headed out Friday about 25 points better on the week following the Irving, Tex.-based software and services company’s completion of a $100 million at-the-market equity program on Wednesday.

During the Independence Day holiday-shortened trading session, debt issuer Exela Intermediate LLC’s 10% senior secured first-lien notes due 2023 (Caa3/CCC-) improved ¼ point to 69 bid on $9 million of volume, a source said.

Elsewhere, Talen Energy Supply LLC’s 10½% notes due 2026 (B3/CCC+/B) fell about ¾ point to 71½ bid on $2 million of trading volume.

PBF Holding Co. LLC’s 6% senior notes due 2028 (B3/B+/B+) improved about ½ point to the 67½ bid area in light supply.

In the distressed pharmaceuticals space, Endo Finance LLC’s 6% senior notes due 2028 (Caa2/CCC+) softened ¾ point to 67 bid, a source said.

Mallinckrodt plc’s 5¾% notes due 2022 were quoted at 69 7/8 bid, 1/8 point higher on the day and 1 3/8 points better from the same session a week ago.

Also Friday, Diamond Sports Group LLC’s bonds were mixed.

The 5 3/8% senior secured notes due 2026 (B2/CCC+) headed out at 64 1/8 bid, up 1/8 point for the day but more than 1 point off from the same session last week.

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