DISH notes higher; Carvana trading thins; First Republic gains; QVC up; Qurate declines

By Cristal Cody

Tupelo, Miss., March 31 – DISH Network Corp.’s paper continued to gain on Friday with the distressed bonds trading about 1 point to 2 points better.

DISH's 5 7/8% senior notes due 2024 (B3/B) added 2 points on $36.95 million of volume after picking up 3 points on Thursday and 4 points on Wednesday, a source said.

The notes were quoted at 89 bid.

DISH’s 5¼% notes due 2026 (Ba3/B+) were more than 1 point better at the 79½ bid area on $18.7 million of trading on Friday.

Carvana Co.’s paper was thinly traded with its 5 7/8% senior notes due 2028 (Ca/C) racking up less than $1 million of secondary action on Friday, a source said. The issue was up nearly 3½ points at the 44¾ bid range.

Financial paper was ending the week after a volcanic March mostly better with Deutsche Bank, First Republic Bank, Barclays, Morgan Stanley and Lloyds Banking Group plc all higher in the secondary market, a source said.

First Republic Bank’s 4 3/8% subordinated notes due 2046 (B2/B-) rallied 3 7/8 points to 55 bid on $11.8 million of trading on Friday.

QVC Inc.’s distressed paper turned better on Friday, while parent Qurate Retail Inc.’s notes declined, a market source said.

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