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AMC drops on share pledge; W&T, Ligado lower; Frontier up; GTT, Endo, Mallinckrodt soft
By Cristal Cody
Tupelo, Miss., April 15 – AMC Entertainment Holdings, Inc.’s bonds declined in heavy secondary trading on Thursday following the company’s announcement it intends to issue 500 million new shares.
AMC’s 12% second lien senior secured notes due 2026 (Ca/C) fell more than 2 points to the 87 bid area with $23 million of issues traded.
Oil and gas producer W&T Offshore Inc.’s 9¾% senior secured notes due 2023 (Caa2/B) dropped 1¼ points to 88 bid.
Frontier Communications Corp.’s 11% notes due 2025 rose more than ¼ point to 70 bid after the company announced it expects to emerge from bankruptcy in the “coming weeks.”
GTT Communications, Inc. reported Wednesday that lenders have consented to extend a deadline to deliver its audited consolidated financial statements from Wednesday until April 22.
Endo Finance LLC’s 6% senior notes due 2028 (Caa2/CCC+) fell 1½ points to 72½ bid on more than $3.5 million of issues traded Thursday.
Bankrupt pharmaceuticals maker Mallinckrodt plc’s 4¾% notes due 2023 were modestly softer at 24 bid.
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