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Published on 7/14/2021 in the Prospect News High Yield Daily.

AMC drops; Talen better; Nine Energy up; Mallinckrodt steady; Endo paper flat to higher

By Cristal Cody

Tupelo, Miss., July 14 – Meme stock contender AMC Entertainment Holdings, Inc.’s bonds sank along with its shares on Wednesday.

AMC’s 12% second-lien senior secured notes due 2026 (Ca/C) fell 4 points to 93½ bid on more than $36 million of secondary action during the session, a source said.

Elsewhere, Talen Energy Supply LLC’s bonds traded up about ¼ point to 1¾ points on Wednesday.

Talen’s 7 5/8% senior secured notes due 2028 (Ba3/BB-/BB) rose 1¾ points to 88¼ bid on more than $8.5 million of secondary supply, a source said.

Nine Energy Service, Inc.’s 8¾% notes due 2023 (Caa2/D) traded in the 55 bid area in thin volume during the session.

In the distressed pharmaceuticals space, Mallinckrodt plc’s notes were quiet in light trading on Wednesday, a source said.

The 4¾% notes due 2023 were mostly unchanged at 23 bid by the close.

Endo Finance LLC’s bonds traded flat to better in heavy secondary trading during the session, according to a market source.

Endo’s 9½% senior secured notes due 2027 (Caa2/CCC+) improved ½ point to 96¼ bid.


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