Shelf Drilling, Peabody Energy notes improve; AMC edges up; Diamond Sports dips

By Cristal Cody

Tupelo, Miss., April 30 – Distressed bonds saw mixed trading action over Friday’s session as volume thinned.

Shelf Drilling Holdings Ltd.’s 8¼% senior notes due 2025 (Caa3/CCC+) climbed 2¾ points to 76 bid on $2 million of trading volume, a source said.

Offshore driller Transocean Inc.’s bonds gave back some gains made in the prior session.

Transocean’s 8% notes due 2027 (Ca/CCC) traded 1 1/8 points lower at 70 3/8 bid on more than $4.5 million of trading supply.

St. Louis-based coal producer Peabody Energy Corp.’s 6 3/8% senior secured notes due 2025 (Caa1/CCC-) gained ½ point to 42 bid during the session.

Meanwhile, AMC Entertainment Holdings, Inc.’s 12% second-lien senior secured notes due 2026 (Ca/C) recovered ¼ point to hit 86 bid after trading flat in the prior session, a source said.

Diamond Sports Group LLC’s 6 5/8% senior notes due 2027 (Caa2/CCC-) fell 5/8 point to 54 bid in strong trading activity.

In other distressed secondary trading on Friday, Credito Real SAB de CV’s 9½% senior notes due 2026 (//BB+) were up nearly 6 points at the 101¾ bid area on more than $12.5 million of secondary supply, a source said.

Alpha Holding SA de CV’s bonds remained weak with the 10% notes due 2022 (Caa2/CCC/CC) down 1 point to 23 bid in light supply.

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