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Diamond Sports mostly lower; Telesat declines; Nine Energy, PBF, Transocean higher
By Cristal Cody
Tupelo, Miss., Feb. 16 – Diamond Sports Group LLC’s notes traded about ½ point better to 2½ points weaker with the secured paper declining to the high 30s on Wednesday.
Diamond Sports’ 5 3/8% senior secured notes due 2026 (Caa1/CCC) were quoted at 39½ bid, down 2½ points in steady trading action totaling over $10.5 million, a source said.
The company’s notes were down about ½ point to 3/8 point on Tuesday following the start of the solicitation of consents for a debt exchange offer.
Telesat Corp.’s 6½% senior notes due 2027 (Caa1/B) fell 1 point to 56½ bid on Wednesday with the notes trading 2½ points softer this week, a source said.
Nine Energy Service, Inc.’s 8¾% notes due 2023 (Caa3/D) added 2 points to hit 44½ bid as the deadline nears for the company to submit a business plan or face delisting from the New York Stock Exchange.
PBF Energy Inc.’s 7¼% senior notes due 2025 (Caa1/B/B-) improved over 1½ points to near the 86½ bid area in light trading of under $4 million during the session, a source said.
Transocean Inc.’s 7½% senior notes due 2031 (Ca/CCC) also improved about 1¾ points on Wednesday to 64¾ bid in thin trading.
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