AMC lower in front of earnings; Carvana mixed; Consolidated Communications drops

By Cristal Cody

Tupelo, Miss., Feb. 28 – AMC Entertainment Holdings, Inc.’s notes moved lower on Tuesday ahead of the company’s after-market release of its fourth-quarter earnings report.

AMC’s 10% senior secured second-lien notes due 2026 (Caa3/CCC-) gave back ½ point going into the close to trade at 51¾ bid on more than $15 million of secondary volume, a source said.

Carvana Co.’s paper also attracted strong secondary action, a source said.

Carvana’s 5 5/8% senior notes due 2025 (Caa2/CCC) traded down ¼ point to 61 bid on $14 million of trading during the session.

The company’s 5½% senior notes due 2027 (Caa2/CCC) rallied 5 points to a quote of 51 bid on lighter trading totaling $3 million.

Carvana’s 10¼% notes due 2030 (Caa2/CCC) also were up 3 7/8 points over the afternoon at 62¼ bid on $7.7 million of volume.

In other active trading post-earnings release, Consolidated Communications Holdings, Inc.’s bonds were down about 6 points in heavy trading, a source said.

Consolidated Communications’ 6½% senior secured notes due 2028 (B3/B-) dropped 6 points to 72¼ bid on $24 million of secondary volume as one of the day’s top traded issues.

The issuer’s 5% senior secured notes due 2028 (B3/B-) also were quoted off 6 points at 66¾ bid on Tuesday.

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