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AMC notes gain in heavy trading; Bausch Health paper rallies; Rite Aid notes improve
By Cristal Cody
Tupelo, Miss., Nov. 10 – AMC Entertainment Holdings, Inc.’s paper traded about 1 1/8 points to 2½ points higher on Thursday on more than $60 million of secondary supply.
AMC’s 10% senior secured second-lien notes due 2026 (Caa3/CCC-) rose 1 1/8 points to 37½ bid in heavy volume totaling $31.5 million, a source said.
AMC’s 7½% notes due 2029 (Caa1/B-) added about 2½ points to trade at 61 bid on $31 million of volume.
The company’s paper was among the most active junk and distressed names seen in the secondary market over the day.
Distressed names including Bausch Health Cos. Inc. were seen higher on Thursday, sources said.
Bausch Health’s 9¼% senior notes due 2026 (Caa3/CC/C) rallied 6 points in active trading totaling more than $7.5 million.
The bonds were quoted at 63¾ bid.
Rite Aid Corp.’s paper improved on Thursday, while its credit default swap spreads widened more than 100 basis points this week, sources said.
Rite Aid’s 7½% senior secured notes due 2025 (B3/CC/CCC) traded 1 point better on the day at 72 bid.
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