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Diamond Sports soft; Evergrande lower; Digicel up; Talen Energy, Transocean bonds gain
By Cristal Cody
Tupelo, Miss., Oct. 25 – Diamond Sports Group LLC’s notes traded mostly flat to weaker on Monday with the notes down about 8 points to over 10 points since the start of the month.
Diamond Sports’ 5 3/8% senior secured notes due 2026 (Caa1/CCC) saw strong secondary action on Monday but went out modestly weaker to unchanged at 57¾ bid, a market source said.
In other distressed issues, China Evergrande Group’s 8¾% senior notes due 2025 (C/C/C) were down about 1/8 point at 22 bid following reports the company has resumed some building projects, a source said.
Digicel Group Ltd.’s bonds climbed about 1¼ points to 1¾ points following the announcement that Telstra Corp. Ltd. will acquire its South Pacific operations in partnership with the Australian government.
Digicel International Finance Ltd.’s 13% senior notes due 2025 (Caa2//B-) traded 1¾ points better at 103 bid and yielding 12.87%.
Talen Energy Supply LLC’s bonds continued to gain ground after trading up nearly 10 points over the prior week.
Talen’s 10½% senior notes due 2026 (B3/CCC/B-) rose ½ point to 66 bid.
Transocean Ltd.’s bonds were seen about 1 point to 2 points better in light trading, a source said.
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