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Washington Prime bonds soften; GEO better; Talen Energy gains; PBF lower; AMC up
By Cristal Cody
Tupelo, Miss., June 21 – Washington Prime Group, LP’s bonds traded more than 2 points weaker on Monday as the company moves ahead in its Chapter 11 bankruptcy.
The 6.45% notes due 2024 (C/D/CC) headed out down 2¼ points at the 73 bid area on light trading supply of $1.2 million, a source said.
Meanwhile, GEO Group Inc.’s 6% guaranteed senior notes due 2026 (B2/CCC) were quoted up nearly 1 point at 74¼ bid on $2.5 million of secondary activity Monday, a source said.
In distressed energy issues, Talen Energy Supply LLC’s 6½% senior notes due 2025 (B3/CCC+/B) climbed 2 1/8 points to 73 1/8 bid on $2.5 million of secondary supply over the day.
Talen’s 10½% notes due 2026 (B3/CCC+/B) improved 1 point during the session to 77½ bid on $2.5 million of trading volume.
In other distressed energy issues, PBF Holding Co. LLC’s 7¼% senior notes due 2025 (B3/B+/B+) fell more than 2½ points to the 79¾ bid area on light volume totaling $1 million, a source said.
Elsewhere, AMC Entertainment Holdings, Inc.’s 5¾% senior subordinated notes due 2025 (Ca/C) rose 2¼ points to 80¼ bid on $2 million of paper traded over the day, a source said.
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