The Pirates have traded minor league reliever--and former big-league reliever--Jonah Bayliss to the Blue Jays for a player to be named. I guess it's possible that the PTBNL will be someone interesting, but I assume this is just a dump, like the Brian Rogers release a few days ago. When Bayliss made his debut with the Pirates he had terrific stuff, but he didn't have it when he pitched for the Pirates last year, and he's had bad results in the minors this year and last.
My initial impression of this move was that, given the state of the butt end of the Pirates' bullpen, it was like a broke college kid struggling to make his rent but refusing to save pennies. Upon further investigation, though, there are a bunch of options in the Indianapolis bullpen more interesting than Bayliss, and it may have come down to a simple minor-league roster crunch. The Bucs might have sent Bayliss down to Altoona, but all the relievers there are a good bit younger than he is, so it's possible the Pirates just want to use those spots on players they view as having some headroom.