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Published on 4/5/2024 in the Prospect News High Yield Daily.

Canacol notes decline; Altice France paper mixed on week; DISH securities soften

By Cristal Cody

Tupelo, Miss., April 5 – Overall secondary action slowed Friday in the distressed space with a few names standing out as market tone gained on stronger-than-expected March jobs data.

Canacol Energy Ltd.'s 5¾ senior notes due 2028 (Caa1/BB-/B) were closing the day about 3 points lower on the week at 41 bid, 42 offered after a downgrade from Moody’s Ratings.

Paper from Altice France Holding Restricted Group’s and affiliates continued to be “pretty active” in the junk and distressed secondary markets Friday, a source said.

Altice France Holding SA’s 10½% senior notes due 2027 (Ca/CCC-) went out at 38½ bid, 39½ offered on more than $11 million of paper traded, a source said.

DISH DBS Corp.’s distressed paper mostly quieted Friday with the 5 7/8% notes due Nov. 15, 2024 (Caa1/CCC) the most active and its credit default swaps spreads wider on the week.

The notes traded over 1 point lower on the week at 94 bid, 95 offered, a source said.


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