AMC second-lien notes higher; Endo unchanged to softer; Skillz secured paper improves

By Cristal Cody

Tupelo, Miss., March 2 – Bonds from AMC Entertainment Holdings, Inc. and Endo International plc topped secondary activity in the distressed market on Wednesday.

AMC’s 10% senior secured second-lien notes due 2026 (Caa3/CCC-) traded over 1¼ points better at 93½ bid following the company’s strong fourth-quarter earnings report in the prior session, a market source said.

Secondary supply totaled $24 million.

Endo’s paper went out flat to ½ point softer after declining on Tuesday on the heels of the company’s fourth-quarter earnings release at the start of the week.

Endo Finance LLC’s 6% senior notes due 2028 (Caa3/CCC-) traded about ½ point weaker on Wednesday at 63½ bid, a source said.

The company’s 9½% senior secured notes due 2027 (Caa2/CCC+) went out flat at 96 bid on $21 million of notes traded.

Skillz Inc.’s 10¼% senior secured notes due 2026 (B3/B-) that priced in December as the company’s debut high-yield issue added 2 points to trade with a mid-80s handle.

The issue was quoted at 86 bid and yielding over 14¼% on $2 million of secondary activity on Wednesday, a source said.

Skillz sold $300 million of the notes on Dec. 15 at 95 to yield 11.598%.

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