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Published on 1/9/2024 in the Prospect News High Yield Daily.

DISH Network notes edge higher; AMC Entertainment active; Enviva paper trades off

By Abigail W. Adams

Portland, Me., Jan. 9 – The distressed debt space was quiet and flat on Tuesday as the market awaited the next great catalyst for movement – the Thursday release of the Consumer Price Index report.

DISH Network Corp.’s senior notes (Caa2/B-) were active with the notes edging higher after seeing some selling the previous week.

DISH’s 5 1/8% senior notes due 2029 saw heavy volume with the notes rising ½ to ¾ point to a 50-handle. The notes were trading in the 50 to 50½ context heading into the market close, a source said.

DISH’s 7¾% senior notes due 2026 were also up about ½ point and closed the day at 69¾, a source said.

AMC Entertainment Holdings, Inc.’s senior notes were active although with little movement in price as the notes also stabilized from last week’s sell-off.

The company’s 10% notes continued to trade in the 81 to 82 context and closed the day wrapped around 82.

Meanwhile, Enviva Partners, LP was the name on the chopping block on Tuesday with its 6½% senior notes due 2026 (Caa2/CC/CC) plunging 5 to 6 points in active trade.

The 6½% notes traded as low as 40 in intraday activity but closed the day wrapped around 42½, a source said.


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