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Diamond Sports extends gains; PBF up; Talen down; pharma mixed; Kaisa drops
By Cristal Cody
Tupelo, Miss., Nov. 9 – Diamond Sports Group LLC’s bonds remained stronger Tuesday following parent Sinclair Broadcast Group Inc.’s announcement that it had taken on a portion of the company’s debt.
Diamond Sports’ 6 5/8% senior notes due 2027 (Ca/CC) are trading 4½ points better week to date.
The issue was quoted at 30 bid, up 1¾ points on the day on $14 million of secondary supply.
In the distressed pharmaceuticals space, Endo International plc’s 6% senior notes due 2028 (Caa3/CCC-) saw a “lot of volume today,” a source said.
The issue was last seen trading at 76½ bid, up from 75 7/8 bid on Monday.
Mallinckrodt plc’s 5¾% senior notes were 1¼ points weaker on the day at 57¼ bid.
Lannett Co., Inc.’s 7¾% senior secured notes due 2026 (B3/B) dropped 2½ points to 75¾ bid.
Elsewhere, PBF Holding Co. LLC’s 7¼% senior notes due 2025 (Caa1/B/B-) traded over 2 points higher at the 78 bid range on Tuesday.
Talen Energy Supply LLC’s 6½% notes due 2025 (Caa1/CCC/B-) slid 4¼ points to 64 bid.
Kaisa Group Holdings Ltd.’s 9 3/8% senior notes due 2024 (Caa2//CCC-) were down 2 points to 28½ bid over Tuesday’s session, a source said.
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