Bed Bath notes soften; Diamond Sports, Diebold up; Team Health, Bausch, Envision trade

By Cristal Cody

Tupelo, Miss., Feb. 13 – Distressed secondary action picked up on Monday with several bonds, including Bed Bath & Beyond Inc., Diamond Sports Group LLC and Diebold Nixdorf Inc., trading over the session.

Bed Bath & Beyond’s 5.165% senior notes due 2044 (C/D) declined 2¾ points to 12¾ bid on $4 million of volume, according to a market source.

Diamond Sports Group’s 5 3/8% senior secured notes due 2026 (Caa3/CCC-) traded 1/8 point higher at 9 7/8 bid on $7.5 million of supply, a market source said.

National CineMedia, LLC’s 5¾% senior notes due 2026 (Ca/C) were active also and trading at a 3 bid handle on $3 million of volume.

Diebold Nixdorf’s 9 3/8% senior secured notes due 2025 (Caa2/CCC+) improved 1¼ points to 69½ bid, a source said.

Meanwhile, Team Health Holdings, Inc.’s 6 3/8% senior notes due 2025 (Caa3/CCC/CCC-) rallied 5¼ points to 71¼ bid on Monday, a source reported.

Bausch Health Cos. Inc.’s 11% senior secured first-lien notes due 2028 (Caa1/B-/B) were more than ½ point better at around 74 bid on $8 million of paper changing hands.

Envision Healthcare Corp.’s 8¾% senior notes due 2026 (C/CC) also were busy with $8 million of volume reported.

The issue went out at 25¾ bid, a source said.

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