Canacol Energy bonds climb; Altice mixed on week; DISH DBS paper, CDS spreads weaken

By Cristal Cody

Tupelo, Miss., April 19 – Canacol Energy Ltd.’s senior notes soared by the close Friday in busy secondary action after the company reported a new gas discovery.

“Almost $20 million has traded today,” a source said. “On the week, they’re up pretty good.”

Canacol’s 5¾ senior notes due 2028 (Caa1/BB-/B) climbed to 52 bid, 52 offered, nearly 10 points better on the week.

Trading in Altice France Holding Restricted Group slowed but remained strong over the session.

The 10½% senior notes due 2027 (Ca/CCC-) were mostly unchanged from Thursday at 38¼ bid, 39¼ offered but softer from trading at the start of the week at 41 bid, 42 offered.

Altice’s 5¾% notes due 2029 also saw strong secondary action over the day and were ending the week “up a couple points,” a source said.

Meanwhile, DISH DBS Corp.’s 7 3/8% senior notes due 2028, part of a distressed bond exchange offer that was canceled in January, saw strong action in the secondary market on Friday on more than $10 million of paper traded.

The notes headed out down about 2 points on the week at 41 bid, 42 offered, a source said.

Also this week, DISH DBS’ credit default swap spreads moved out more than 400 basis points to more than 3,500 bps.

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