Hertz higher; AMC, PBF gain; Transocean flat; Peabody notes stronger on week

By Cristal Cody

Tupelo, Miss., May 14 – Hertz Corp.’s bonds traded about 1 to 1½ points better on Friday after the company filed a new Chapter 11 bankruptcy plan of reorganization.

Hertz’s 5½% notes due 2024 rose 1 point to 103½ bid in heavy volume, a source said.

AMC Entertainment Holdings, Inc.’s 12% second-lien senior secured notes due 2026 (Ca/C) traded more than 1 point higher at 91 bid on nearly $18.5 million of secondary action, a source said.

Parsippany-Troy Hills, N.J.-based petroleum refiner PBF Holding Co. LLC’s 6% senior notes due 2028 (B3/B+/B+) were quoted up about 1 point at 79 bid in heavy secondary supply, a source said.

Offshore driller Transocean Inc.’s bonds were mixed Friday after softening about 1½ to 2¼ points on Thursday.

The company’s 7½% senior notes due 2026 (Ca) edged ¼ point lower to 81¾ bid in strong trading activity.

Transocean’s 11½% senior guaranteed notes due 2027 (Caa3/CCC) traded flat at 101½ bid late afternoon after softening ½ point in the prior session.

Meanwhile, St. Louis-based coal producer Peabody Energy Corp.’s 6 3/8% notes due 2025 (Caa1/CCC) were mostly unchanged at the 55½ bid area after gaining nearly 2¼ points on Thursday, a source said.

The notes have rallied about 11¼ points in the past week.

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