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Exela softens; CBL stronger; Transocean, Peabody higher; Talen declines; TPC gains
By Cristal Cody
Tupelo, Miss., July 6 – Exela Technologies, Inc.’s bonds gave back some gains on Tuesday after the company’s paper ended Friday about 25 points better on the week.
Exela Intermediate LLC’s 10% senior secured first-lien notes due 2023 (Caa3/CCC-) softened 7/8 point to 68 1/8 bid on $4.95 million of trading action, a source said.
Elsewhere, bankrupt real estate investment trust CBL & Associates LP’s 5.95% notes due 2026 were up ¼ point at 58¼ bid after gaining 1 point in the short market session on Friday.
In distressed energy issues, Transocean Inc.’s 6.8% notes due 2038 (C/CCC-/) jumped over 1½ points to 69½ bid on more than $19.8 million of secondary volume on Tuesday, a source said.
Talen Energy Supply LLC’s bonds traded down ¾ point to 3 points in heavy secondary volume during the session, a source said.
Talen’s 6½% senior notes due 2025 (B3/CCC+/B) declined 2 points to 63½ bid on $4 million of secondary supply on Tuesday.
Peabody Energy Corp.’s 6 3/8% notes due 2025 (Caa1/CCC) added 1¼ points to head out at 76 bid, a market source said.
TPC Group Inc.’s 10½% notes due 2024 (Caa2) traded nearly 1 point better at 96 bid on $1.5 million of trading activity on Tuesday.
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