Rebound plays up; AMC flat; energy mixed; Intelsat Jackson drops; Diamond Sports better

By Cristal Cody

Tupelo, Miss., Aug. 6 – Paper from pandemic-impacted issuers including airlines and cruise operators bounced back by the end of the week.

“The rebound plays that took a dive are slowing creeping back up,” a market source said. “Besides that, it’s been a pretty slow week – just that and earnings.”

Movie theater owner AMC Entertainment Holdings, Inc.’s 12% second-lien senior secured notes due 2026 (Ca/C) were flat in thin trading at 85¼ bid and down 4 points on the week.

Energy bonds were mixed as oil prices settled lower.

Transocean Inc.’s 8% debentures due 2027 (C/CCC) dipped ¼ point to 70 bid.

PBF Holding Co. LLC’s 9¼% senior secured notes due 2025 (Ba3/BB/BB) rose about 5/8 point to 88¾ bid by late afternoon.

Intelsat Jackson Holdings SA’s bonds declined after a trustee objected to the company’s Chapter 11 plan of reorganization disclosure statement on Friday.

The company’s 9¾% senior notes due 2025 dropped 3¼ points to 55 bid.

Diamond Sports Group LLC’s 5 3/8% senior secured notes due 2026 (B2/CCC+) went out up ¾ point on the day and 1¾ points better on the week.

Elsewhere, Endo International plc’s 6% senior notes due 2028 (Caa2/CCC+) were flat at 65 bid after gaining ¾ point in the prior session following stronger second quarter revenue results.

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