Mallinckrodt ramps up; Nabors, Laredo, Baytex, Peabody gain; W&T dip; AMC better

By Cristal Cody

Tupelo, Miss., April 8 – Bankrupt pharmaceuticals maker Mallinckrodt plc’s bonds saw a second day of secondary market gains on Thursday.

In other secondary market action, Diamond Sports Group LLC’s 5 3/8% senior secured notes due 2026 (Ba3/CCC+) fell more than 1¼ points to 69 bid on more than $6.5 million of paper traded Thursday, a source said.

Tulsa-based Laredo Petroleum Inc.’s 10 1/8% senior notes due 2028 (Caa1/B-) rose more than 2 points to the 100¼ bid area in thin volume.

Calgary, Alta.-based oil and gas explorer Baytex Energy Corp.’s 8¾% senior notes due 2027 (B3/B+) improved 1¼ points to 92½ bid in thin action.

St. Louis-based coal producer Peabody Energy Corp.’s 8½% senior secured notes due 2024 (Caa1/CCC-) were up nearly 2 points to trade better than 47¼ bid.

Houston-based oil and gas producer W&T Offshore Inc.’s 9¾% senior secured notes due 2023 (Caa3/B) dropped 1¼ points to 88 bid in light secondary supply.

St. Louis-based coal producer Peabody Energy Corp.’s 8½% senior secured notes due 2024 (Caa1/CCC-) were up nearly 2 points to trade better than 47¼ bid.

AMC Entertainment Holdings, Inc.’s bonds were mixed but mostly better in distressed secondary trading on Thursday, a source said.

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