Exela softens; CBL stronger; Transocean, Peabody higher; Talen declines; TPC gains

By Cristal Cody

Tupelo, Miss., July 6 – Exela Technologies, Inc.’s bonds gave back some gains on Tuesday after the company’s paper ended Friday about 25 points better on the week.

Exela Intermediate LLC’s 10% senior secured first-lien notes due 2023 (Caa3/CCC-) softened 7/8 point to 68 1/8 bid on $4.95 million of trading action, a source said.

Elsewhere, bankrupt real estate investment trust CBL & Associates LP’s 5.95% notes due 2026 were up ¼ point at 58¼ bid after gaining 1 point in the short market session on Friday.

In distressed energy issues, Transocean Inc.’s 6.8% notes due 2038 (C/CCC-/) jumped over 1½ points to 69½ bid on more than $19.8 million of secondary volume on Tuesday, a source said.

Talen Energy Supply LLC’s bonds traded down ¾ point to 3 points in heavy secondary volume during the session, a source said.

Talen’s 6½% senior notes due 2025 (B3/CCC+/B) declined 2 points to 63½ bid on $4 million of secondary supply on Tuesday.

Peabody Energy Corp.’s 6 3/8% notes due 2025 (Caa1/CCC) added 1¼ points to head out at 76 bid, a market source said.

TPC Group Inc.’s 10½% notes due 2024 (Caa2) traded nearly 1 point better at 96 bid on $1.5 million of trading activity on Tuesday.

© 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.