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AMC bonds pick up steam; DISH steady to lower; bankrupt WeWork secured notes sink
By Cristal Cody
Tupelo, Miss., Nov. 8 – AMC Entertainment Holdings, Inc.’s bonds improved on Wednesday ahead of the company's after-market release of its third-quarter report.
The 10% senior secured second-lien notes due 2026 (Caa3/CCC-) rallied nearly 2½ points to a 79 bid handle on more than $11 million of notes changing hands, a source said.
AMC reported after the market closed Wednesday that third-quarter revenue climbed 45.2%, while earnings were positive after a loss in 2022.
DISH Network Corp.’s bonds continued to see mostly strong trading on Wednesday after already racking up heavy volume in the first two sessions of the week, sources reported.
DISH’s 5 7/8% senior notes due 2024 (Caa2/B-) fell ¾ point to 85¼ bid on $21.7 million of volume.
The 5 1/8% senior notes due 2029 (Caa2/B-) were unchanged at 47¼ bid going out the door on $5 million of secondary activity.
WeWork Inc.’s paper sank on Wednesday on the heels of the company’s Chapter 11 bankruptcy late Monday and widely reported Tuesday.
WeWork’s 15% first-lien senior secured notes due 2027 (/D/C) dropped 9 points to a quote of 42½ bid with a 43.35% yield on Wednesday, a source said.
Trading was light with $1.5 million of volume reported.
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