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Published on 2/1/2022 in the Prospect News High Yield Daily.

AMC notes up in strong secondary supply; Envision rallies; TPC quiet; Transocean higher

By Cristal Cody

Tupelo, Miss., Feb. 1 – Traders sent AMC Entertainment Holdings, Inc.’s 10% senior secured second-lien notes due 2026 (Ca/CCC-) up nearly 2¾ points in heavy volume on Tuesday after the theater owner reported strong fourth-quarter results.

AMC’s 10% senior secured second-lien notes due 2026 (Ca/CCC-) went out at 96¼ bid on $39 million of paper traded, a source said.

In the distressed health care space, Envision Healthcare Corp.’s 8¾% senior notes due 2026 (Ca/CC) rallied 5¼ points to 57¼ bid by the close on quieter supply totaling $3 million, a market source said.

TPC Group Inc.’s 10½% senior secured notes due 2024 (Caa2/D/CC) were quiet in the secondary market on Tuesday after downgrades from Fitch Ratings and S&P Global Ratings.

The notes fell about ¾ point to 66¾ bid in the prior session, a source said.

Transocean Inc.’s 7½% senior notes due 2026 (Ca/CCC) recovered over 2 points after shedding more than 5 points in the previous week.

Transocean’s 7½% senior notes due 2026 (Ca/CCC) went out at 77½ bid on light trading totaling $1.7 million, a source said.


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