AMC on mend; Endo paper mixed; Mallinckrodt slides; Talen Energy edges higher

By Cristal Cody

Tupelo, Miss., Dec. 21 – AMC Entertainment Holdings, Inc.’s notes continued to see strong distressed secondary trading on Tuesday but to the upside after declines Monday and over the prior week.

AMC Entertainment’s 10% senior secured second-lien notes due 2026 (Ca/CCC-) traded 2¼ points higher at 95 1/8 bid on $12 million of secondary volume, a source said.

Junk secondary volume was light headed into the year’s end with fewer distressed issuers seen, a market source said.

Endo International plc’s paper was flat to slightly better on Tuesday.

Endo’s Luxembourg Finance Co. I Sarl’s 6 1/8% senior secured notes due 2029 (B3/B-) edged up less than ¼ point to 97¾ bid on $8.4 million of trading supply, a source said.

Endo Finance LLC’s 6% senior notes due 2028 (Caa3/CCC-) were quiet during the session. The notes were last seen trading on Monday about ¼ point lower near the 73¼ bid area.

Mallinckrodt plc’s 5¾% senior notes due 2022 fell 5 points to 51 bid on Tuesday.

In the distressed energy space, Talen Energy Supply LLC’s notes improved about ¼ point to ½ point after trading 2 points to over 2¾ points lower on Monday.

Talen’s 6½% notes due 2025 (Caa1/CCC/B-) rose ½ point to 43½ bid, a market source said.

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