CBL notes gain on back of Sears bankruptcy; Intelsat in focus with Q3 results on horizon

By James McCandless

San Antonio, Oct. 19 – The distressed space was relatively quiet to finish a busy week on Friday as the market enters the third-quarter earnings season.

CBL & Associates Properties, Inc.’s notes were gaining as the company garnered attention for its Sears properties.

Retail names PetSmart, Inc. and Neiman Marcus Group, Inc. saw small boosts.

In telecom, attention turned to Intelsat SA as third-quarter results are expected in less than two weeks, leading to mixed results in its issues. Sector peer Frontier Communications Corp.’s paper declined.

Elsewhere, Diebold Nixdorf, Inc.’s notes fell further as the market anticipates its next earnings report.

Chemical name Hexion, Inc.’s notes continued to rise, capping a week of heavy trading as holders prepare for debt talks.

The energy space closed the week with Sanchez Energy Corp. paper improving and EP Energy Corp. tranches seeing a sharp decline.

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