Diebold Nixdorf, Carvana notes mixed; Transocean declines; Talen, Diamond Sports higher

By Cristal Cody

Tupelo, Miss., May 2 – Diebold Nixdorf Inc.’s senior notes recovered over 3½ points on Monday after the company’s paper sank 10½ points on Friday and ended April about 30 points lower.

Diebold Nixdorf’s 8½% notes due 2024 (Caa1/CCC) traded as high as the 71 bid area before heading out at 68 bid, up 2 points from Friday, a source said.

Trading was light on Monday with $2 million of volume.

Carvana Co.’s paper was carrying yields over 10% and among the most active junk issues seen in the secondary market on Monday, a source said.

The online car retailer’s 4 7/8% senior notes due 2029 (Caa2/CCC) were flat at 72¾ bid on $14 million of volume.

Transocean Inc.’s notes were thinly traded with the offshore driller’s 8% debentures due 2027 (Ca/CCC+) quoted over 1 point weaker at 78 bid on Monday.

Talen Energy Supply LLC’s 10½% senior notes due 2026 (Caa2/CCC/CCC) improved about ¼ point to 37¼ bid in light secondary supply, a source said.

Also in the distressed market, Diamond Sports Group LLC’s 6 5/8% senior notes due 2027 (Ca/CC) rose 1 point to hit 21 bid on $2 million of paper traded on Monday, a source reported.

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