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Altice bonds drop after earnings post; Telesat lower; Logan declines; Agile higher
By Cristal Cody
Tupelo, Miss., Feb. 17 – Bonds in the communications space declined on Thursday with the overall financial markets soft on growing emerging markets concerns of a Russian invasion of Ukraine.
Altice USA, Inc.’s bonds were about 1 3/8 points to over 2¼ points weaker following the company’s earnings release the prior day.
The company’s 4 5/8% notes due 2030 (B3/B+) saw $38.79 million of bonds changing hands with the paper down over 2¼ points to 84 bid, a source said.
Telesat Corp.’s notes fell about ½ point to 1½ points with the secured issue 5¼ points lower this week.
Telesat Canada LLC’s 4 7/8% senior secured notes due 2027 (B1/BB-) declined 1½ points to 73¾ bid, a market source said.
Bonds were mixed in China’s distressed property developer space.
Logan Group Co. Ltd.’s 4.85% senior notes due 2026 (B+) dropped 2½ points to 85 bid following the company’s third downgrade this month, a source said.
Agile Group Holdings Ltd.’s 6.7% senior notes due March 7, 2022 (B2/B) improved over 1¼ points to 93 3/8 bid on light volume totaling $2 million.
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