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AMC extends rally; Bausch climbs; Coinbase up; Diebold steadies; Greenland plunges
By Cristal Cody
Tupelo, Miss., May 27 – AMC Entertainment Holdings, Inc.’s 10% senior secured second-lien notes due 2026 (Caa3/CCC-) extended a rally into Friday’s session.
The issue was quoted trading 2¾ points better at 76½ bid on $4 million of volume after adding 3¾ points on Thursday.
Bausch Health Cos. Inc.’s senior notes also climbed about 2¾ points to 3 points during the short session.
The company’s 9¼% senior notes due 2026 (B3/B/B) jumped 2 7/8 points to 84½ bid on $3 million of paper traded, a source said.
Rate-dependent deals from issuers including Coinbase Global, Inc. haven’t fared well in the secondary space, a market source noted.
The cryptocurrency exchange platform’s $1 billion of its 3 3/8% senior guaranteed notes due 2028 (Ba1/BB+) priced at par back in September and traded Friday at 73 bid, up 1½ points on the day.
Meanwhile, Diebold Nixdorf Inc.’s bonds “were drilled down” after weak earnings and lower 2022 guidance earlier in May, a source said.
The 8½% notes due 2024 (Caa1/CCC-) were mostly flat on the day at the 50 bid area.
Also Friday, Greenland Global Investment Ltd.’s 5.6% senior notes due Nov. 13, 2022 (B3) sank 17½ points to 35½ bid after the company announced it is seeking to extend the maturity on $488 million of dollar bonds due in June.
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