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Peabody rallies; Nine Energy gains; Talen flat; Revlon, CWT notes better; GEO, AMC up
By Cristal Cody
Tupelo, Miss., June 8 – Peabody Energy Corp.’s 6 3/8% notes due 2025 (Caa1/CCC) rallied further on Tuesday with the notes now trading 10¾ points better since the start of June.
The bonds climbed 2¼ points to 68½ bid over the day, a source said.
Elsewhere in the distressed energy space, Nine Energy Service, Inc.’s 8¾% notes due 2023 (Caa2/D) added 2 points to trade near the 46 bid area, a market source said.
Talen Energy Supply LLC’s 6½% senior notes due 2025 (B3/CCC+/B) were unchanged on the day at 76 bid.
Elsewhere in the distressed secondary market, Revlon Consumer Products Corp.’s 6¼% senior notes due 2024 (C/C/) rose 1¾ points to 42 bid after the company closed on a $130 million secured term loan, a source said.
CWT’s 11½% senior secured notes due 2026 (/CC/) improved 1¼ points to 59¾ bid over the session.
GEO Group Inc.’s 6% guaranteed senior notes due 2026 (B2/CCC) traded up to 71¼ bid from 68 3/8 bid on Monday, a source said.
Also on Tuesday, AMC Entertainment Holdings, Inc.’s 12% second-lien senior secured notes due 2026 (Ca/C) headed out at 103½ bid, up 5/8 point on the day, a source said.
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