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AMC bonds attract secondary interest; Party City notes up; Bed Bath & Beyond stronger
By Cristal Cody
Tupelo, Miss., Nov. 14 – AMC Entertainment Holdings, Inc.’s notes attracted heavy secondary interest on Monday with more than $40 million of paper traded following the long holiday weekend.
AMC’s 10% senior secured second-lien notes due 2026 (Caa3/CCC-) traded at 40½ bid, 3 points better than where the issue went out Thursday ahead of the Veterans Day holiday, a source said.
Other distressed names also were trading higher on Monday.
Party City Holdings Inc.’s 8¾% senior secured notes due 2026 (Caa1/CCC+) rose 2 points at the start of the session and held on to gains by the day’s end.
The issue went out at 42 bid, according to a market source.
The bonds sank more than 14 points in the prior week.
Bed Bath & Beyond Inc.’s notes were stronger in busy secondary trading after the distressed retailer reported it entered into exchange agreements with holders of its 3.749% senior notes due 2024, 4.195% senior notes due 2034 and 5.165% senior notes due 2044, a source said.
The 3.749% senior notes due 2024 (C/D) were seen late afternoon at 29½ bid, up from the 25 bid area on Thursday.
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