Coinbase notes under pressure; CURO declines; Diamond Sports drops; Party City moves up

By Cristal Cody

Tupelo, Miss., Nov. 18 – Coinbase Global, Inc.’s paper fell about ½ point to more than 2¼ points on Friday as the crypto space stays under pressure in the wake of the FTX collapse.

“That’s because it’s crypto-related,” a source said of the company’s paper taking a hit. “Everybody’s just running to the hills right now.”

Coinbase’s 3 5/8% notes due 2031 (Ba2/BB) dropped ½ point to 50½ bid on more than $13.5 million of secondary volume.

CURO Group Holdings Corp.’s notes were down about ¼ point to more than 5 points with one issue more liquid, a source said.

CURO's 7½% senior secured notes due August 2028 (Caa1/CCC+) slid about 6 points to 40¾ bid in thin activity on Friday.

Diamond Sports Group LLC’s paper “traded down” in more active supply after the company announced Friday it will discuss third-quarter results on Nov. 28, a source said.

The 5 3/8% senior secured notes due 2026 (Caa2/CCC-) declined 1 1/8 points to 16¾ bid on $4 million of volume.

Party City Holdings Inc.’s 8.061% senior secured first-lien floating-rate notes due 2025 (Caa1/CCC+) rallied 3¼ points on Friday after the company was downgraded by S&P Global Ratings.

The issue rose to 36¼ bid on $2 million of secondary action, a source said.

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