| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for AMC Entertainment Holdings Inc. > News item |
Bausch distressed notes mixed; AMC bonds perk up; DISH bonds decline; default events up
By Cristal Cody
Tupelo, Miss., July 10 – Distressed debt trading action slowed on Monday with volume light over the session.
Bausch Health Cos. Inc.’s 4 7/8% senior secured notes due 2028 (Caa1/CCC+/B) were the most active U.S. corporate distressed issue seen trading on $8 million of volume, a source said.
The notes gained around ¼ point to 59¼ bid, while Bausch’s other paper softened in lighter supply.
AMC Entertainment Holdings, Inc.’s 10% senior secured second-lien notes due 2026 (Caa3/CCC-) extended Friday’s gains and added 1 point to head out Monday at 71¾ bid on $6 million of trading, a source said.
DISH Network Corp.’s bonds trading at the distressed level also were active on Monday on more than $10 million of secondary activity.
The 7¾% senior notes due 2026 (B3/B-) fell ½ point to a quote of 62½ bid on $6.2 million of paper traded, a source said.
Meanwhile, the pace of junk corporate defaults is tracking at 2.2% but is expected to rise, according to a BNP Paribas Securities Corp. note released Monday.
Most high-yield issuers entered “restrictive territory” during the first quarter with interest expense outpacing EBITDA growth and implying a path of fundamental deterioration ahead and from growing volatility with near-term catalysts for default events including $103 billion of maturities due July 2024-July 2026, BNP said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.