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DISH continues to grab secondary focus, bonds gain; Level 3 mixed; Weekley Homes drops
By Cristal Cody
Tupelo, Miss., May 15 – Paper from DISH Network Corp. continued to dominate distressed secondary trading on Monday with the bonds up about ¼ point to 1½ points on the day.
The 5 1/8% senior notes due 2029 (B3/B-) rallied 1½ points to 44½ bid, a source said. Trading in the issue was on the light side with $2.5 million of volume.
DISH DBS Corp.’s 7¾% senior notes due 2026 (B3/B-) traded 1¼ points better by the close to a quote of 54 bid on stronger supply totaling $4 million.
Bonds from Lumen Technologies, Inc. subsidiary Level 3 Financing, Inc. were a wash on Monday with one tranche down ½ point and another issue up ½ point by the close.
Level 3 Financing’s 3 7/8% senior notes due 2029 (B1/B) shed ½ point to 56¾ bid on $5 million of trading, a source said.
The 4 5/8% senior notes due 2027 (B1/B) were up ½ point at 64¼ bid on $4.2 million of volume on Monday.
Lumen Technologies’ 4% senior secured notes due 2027 (B3/BB-) slipped 1/8 point to 67 bid on $3 million of activity over the session.
In other distressed issues, Weekley Homes LLC’s 4 7/8% senior notes due 2028 (Caa1/BB-) sank 7 points to 62 bid, a source said.
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