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DISH bonds mixed but mostly lower; CommScope gains; Lumen higher; Level 3 notes weak
By Cristal Cody
Tupelo, Miss., Nov. 7 – DISH Network Corp.’s bonds remained volatile on Tuesday after the bonds shed around 4 points to more than 10 points on Monday after the company reported earnings losses.
DISH DBS Corp.’s 7¾% senior notes due 2026 (Caa2/B-) dropped 5¼ points to head out at 61¼ bid and a 29.95% yield on $9 million of secondary action, a source said.
Some of DISH’s distressed paper saw gains.
The 5 1/8% senior notes due 2029 (Caa2/B-) were up ½ point at 47½ bid on $9 million of trading on Tuesday.
CommScope Holding Co., Inc.’s bonds also saw interest in the secondary market with about $20 million of paper changing hands, a source said.
CommScope’s paper was mostly higher on the day with the 6% senior notes due 2025 (Caa1/CCC+) up ½ point at 72 bid on $15 million of trading.
In addition, Lumen Technologies, Inc.’s 4% senior secured notes due 2027 (Caa2/B/B-) jumped 2¼ points to 59¼ bid on $14.09 million of volume, a source said.
Lumen subsidiary Level 3 Financing, Inc.’s 3 5/8% senior notes due 2029 (B3/CCC+/CCC+) fell 4¼ points to 34¾ bid on $7.4 million of trading on Tuesday.
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