Washington Prime flat; Intelsat, Diamond Sports soft; AMC rises; energy bonds mixed

By Cristal Cody

Tupelo, Miss., Feb. 18 – Distressed energy bonds were mixed as oil prices gave back some gains on Thursday.

Transocean Inc.’s 7½% senior notes due 2031 (C/CCC-/) were quoted down more than 2 points at 47 bid, a market source said.

Tullow Oil plc’s 7% senior notes due 2025 (Caa2/CCC+) climbed 2 points to 80 3/8 bid over the day.

Separately, Washington Prime Group, LP’s 6.45% notes due 2024 (C/C/C) were flat in late afternoon trading at 63¼ bid, according to a market source.

The 6.45% notes due 2024 (C/C/C) sank 9¼ points to 63¾ bid on Tuesday and traded at 62½ bid to 63½ bid going out Wednesday.

Intelsat Jackson Holdings SA’s bonds slowed losses on Thursday but remain down from a week ago, a source said.

Intelsat Jackson’s 5½% senior notes due 2023 declined ½ point to 59½ bid.

The company’s 9¾% senior notes due 2025 fell ¼ point to 60½ bid on Thursday.

In other distressed secondary trading, Diamond Sports Group LLC’s 6 5/8% notes due 2027 (B3/CCC-) saw more than $6 million of bonds traded Thursday with the issue headed out down 1½ points at 57½ bid, a source said.

And distressed movie theater owner AMC Entertainment Holdings, Inc.’s bonds continued to improve in the secondary market over Thursday’s session, a source said.

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