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Diebold notes dip as new issues trade; Occidental eyed amid early tender results
By James McCandless
San Antonio, July 10 – As the week came to a close in the distressed debt market, the activity centered on commerce and energy.
Diebold Nixdorf, Inc.’s notes dipped as its newest pricing of two tranches of five-year senior secured notes started trading.
The 8½% senior notes due 2024 declined by 3¼ points to close at 84¾ bid.
On Friday, the North Canton, Ohio-based connected commerce solutions company’s two tranches of five-year senior secured notes saw their first full day of trading.
The 9 3/8% notes due 2025 were seen ending the session in the 101 context.
After being marketed earlier in the week, the $700 million of 9 3/8% notes priced on Thursday while its European counterpart Diebold Nixdorf Dutch Holding BV sold €350 million of 9% notes to yield 9 1/8%.
“Those came out of the gate at 99 yesterday, so they firmed up today,” a trader said.
In the oil and gas space, Occidental Petroleum Corp.’s issues varied in trading after the company disclosed early results of a tender offer.
The 2.9% senior notes due 2024 shaved off ¼ point to close at 89½ bid. The 2.7% senior notes due 2022 picked up ½ point to close at 94½ bid.
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