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AMC bonds continue climb higher; distressed energy issues mixed; Hertz, Mallinckrodt improve
By Cristal Cody
Tupelo, Miss., Feb. 1 – AMC Entertainment Holdings, Inc.’s bonds remained heavily traded in the distressed secondary market on Monday.
The company’s 12% second-lien senior secured notes due 2026 (Ca/C) climbed 1¼ points on the day to 74¼ bid, a source said.
AMC’s 10½% first-lien senior secured notes due 2025 (Caa2/CCC) were last seen softer at 101¾ bid on Monday, a source said.
Distressed energy bonds were mixed on Monday after softening last week as the Biden administration paused new oil and natural gas leases on public lands and offshore waters.
In other distressed trading on Monday, pharmaceuticals maker Mallinckrodt plc’s 5 5/8% notes due 2023 added 1¾ points to 42¾ bid, a source said.
Meanwhile, bankrupt car rental company Hertz Corp.’s 5½% notes due 2024 improved about ¾ point to 64 bid in strong trading supply over the day, according to a market source.
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