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Diamond Sports notes mixed; Diebold edges up; Lumen active; Bausch mostly declines
By Cristal Cody
Tupelo, Miss., Feb. 14 – Diamond Sports Group LLC’s bonds went out mixed on Tuesday on more than $8 million of paper traded ahead of a bond payment due Wednesday.
The 5 3/8% senior secured notes due 2026 (Caa3/CCC-) rose ½ point to 10 3/8 bid on $5.5 million of secondary volume, a source said.
Diebold Nixdorf Inc.’s bonds continued to edge up following the launch of an exchange offer on Friday.
The 8½% senior notes due Oct. 15, 2026 (Ca/CCC-) traded more than ¼ point better at the 50 bid area on $6 million of volume, a market source said.
Lumen Technologies, Inc.’s paper was active with the notes flat to 2 points lower.
Lumen’s 5 3/8% notes due 2029 (B2/B) dropped 2 points to 58½ bid on more than $4 million of volume, a source said.
The trailing 12-month U.S. junk default rate stands at 1½%, the highest level since June 2020, Fitch Ratings said in a report on Tuesday.
In other distressed paper, Bausch Health Cos. Inc.’s notes mostly softened over the session, a source said.
The 4 7/8% senior secured notes due 2028 (Caa1/B-/B) gave back ¾ point to head out at 59½ bid on $4.5 million of volume.
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