Altice notes mostly soften; DISH bonds edge higher; Lumen, Level 3 mixed on exchange

By Cristal Cody

Tupelo, Miss., March 22 – Bonds affiliated with Altice France Holding Restricted Group and subsidiaries mostly softened on Friday in heavy trading but pulled back from the double-digit losses seen on Wednesday and Thursday on reports the company is engaged with financial and legal advisers.

Altice France Holding SA’s 10½% senior notes due 2027 (Caa2/CCC) dropped 2½ points to 38 bid on $56 million of volume, a source said.

The bonds gave back over 30 points in the prior two sessions.

Cable bonds were among the week’s most active bonds and mostly under pressure, sources said.

DISH DBS Corp.’s 7¾% senior notes due 2026 (Caa3/CC) rose ¼ point to 68½ bid in light supply, a source said.

Lumen Technologies, Inc.’s paper edged higher following the company’s announcement that it completed transactions under its amended and restated transaction support agreement and a subsequent downgrade from S&P Global Ratings to selected default.

Lumen’s 4% senior secured notes due 2027 (Caa3/D) traded near the 62 bid area in light activity that topped $4 million, a source said.

Subsidiary Level 3 Financing, Inc.’s 4 5/8% senior notes due 2027 (Caa2/D) were quoted at 68¼ bid on $6 million of volume and about 1¼ points higher on the week.

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