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AMC under pressure; health care paper up, Bausch, CHS improve; Petrofac trades higher
By Cristal Cody
Tupelo, Miss., Dec. 6 – AMC Entertainment Holdings, Inc.’s paper remained weak with the 7½% notes due 2029 (Caa1/B-) down more than 2½ points in active trading on Tuesday.
The 7½% notes were quoted at the 52½ bid context, a source said.
AMC’s new 12¾% senior secured notes due 2027 (B3/B) also were under pressure and went out about 2 points lower at 87½ bid and a 16.55% yield.
Distressed paper in the health care and pharmaceuticals spaces traded higher over the session.
Bausch Health Cos. Inc.’s notes rose about 1 point to more than 1¾ points, market sources said.
The 5½% senior secured notes due 2025 (Caa1/B-/B) were quoted 1.8 points higher at 87½ bid.
CHS/Community Health Systems, Inc.’s 6 1/8% senior secured notes due 2030 (Caa2/CCC/CCC) added 1¼ points during the session.
The issue went out at 54 bid, up more than 10 points since mid-November.
Energy services and infrastructure company Petrofac Ltd.’s 9¾% senior secured notes due 2026 (BB-/BB-) perked up by nearly 2¾ points during the session, a source said.
Petrofac’s 9¾% senior secured notes due 2026 (BB-/BB-) went out at 66 3/8 bid.
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