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Rite Aid notes edge lower; DISH flat to softer in quieter trading; Telesat higher
By Cristal Cody
Tupelo, Miss., Aug. 11 – Rite Aid Corp.’s 8% senior secured notes due 2026 (Caa3/CCC-/B) edged down ¼ point Friday in active trading, though the distressed notes went out as one of the week’s top junk gainers.
The issue fell ¼ point to 57 bid on $8 million of volume, a market source said.
The bonds went out in the prior week around 52 bid, 53 offered.
DISH Network Corp. paper was unchanged to more than 1 point lower in much lighter trading after about $400 million of the company’s paper changed hands in the prior two sessions, a source said.
DISH DBS Corp.’s 5 1/8% senior notes due 2029 (Caa2/B-) were flat at 59 bid on $5.6 million of volume.
Telesat Corp. paper climbed Friday after the company posted strong second-quarter earnings, a source said.
Telesat Canada’s 4 7/8% senior secured notes due 2027 (B3/D) jumped over 4½ points to a 64-bid handle on $9.25 million of volume.
The 5 5/8% senior secured notes due 2026 (B3/D) rose 4¼ points to 67¼ bid on $2.25 million of trading.
Telesat’s stock shot up 53% on Friday.
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