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DISH DBS declines on financing reports; Altice France notes soften, stronger on week
By Cristal Cody
Tupelo, Miss., April 12 – DISH DBS Corp.’s bonds declined on Friday following news reports the company has received financing offers from private credit firms.
“The bonds are down,” a trader said.
The paper fell around 1/8 point to nearly 3 points in mostly light action over the session on around $17 million of volume reported by late afternoon.
The 7¾% notes due 2026 (Caa3/CCC-) were off around 3 points at 62¼ bid.
DISH’s most active notes were the 11¾ notes due 2027 (Caa1/CCC-), which fell 1 1/8 points to 99 3/8 bid.
Overall supply was light on Friday in the distressed space with Altice France Holding Restricted Group’s paper the most active on more than $30 million of trading spread across three tranches, a source said.
“It’s quiet,” a trader said. “Everything’s weaker.”
Altice’s 10½% senior notes due 2027 (Ca/CCC-) fell ¾ point on Friday to 41¼ bid but were ending the week nearly 3 points better.
Altice’s 6% senior notes due 2028 (Ca/CCC-) slipped ¼ point over the day to 32¼ bid on $13 million of volume.
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