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AMC mixed ahead of earnings post; Bausch paper active; Carvana mostly up; Lumen lower
By Cristal Cody
Tupelo, Miss., Feb. 27 – AMC Entertainment Holdings, Inc.’s paper moved sideways in heavy trading ahead of the company’s fourth-quarter earnings report due Tuesday.
The 7½% senior secured first-lien notes due 2029 (Caa1/B-) rose 5/8 point to 60 7/8 bid on $12.75 million of trading, a source said.
The company’s 10% senior secured second-lien notes due 2026 (Caa3/CCC-) slipped more than 1¾ points to the 52 bid area on $9.13 million of volume.
Bausch Health Cos. Inc. was also one of the day’s most active distressed names following Friday’s ratings downgrade, a market source reported.
The company’s notes were mixed with the tranche of 4 7/8% notes due 2028 (Caa1/B-) up more than ¼ point at 62¼ bid on more than $15 million of paper changing hands.
Carvana Co.’s 4 7/8% senior notes due 2029 (Caa2/CCC), which were down ½ point on Friday, climbed 4 points to 46¾ bid, a source said. Trading supply was light at $3 million.
Lumen Technologies, Inc.’s 6 7/8% series G debentures due 2028 (Caa1/B) lost 1 point to trade with a 62 bid handle on $8.75 million of volume on Monday, a source said.
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