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AMC declines on stock plans; DISH paper attracts secondary interest; Rite Aid slips
By Cristal Cody
Tupelo, Miss., Sept. 6 – AMC Entertainment Holdings, Inc.’s bonds mostly declined on Wednesday, while its stock sank nearly 40% after the issuer announced plans to sell more common stock.
AMC’s 10% senior secured second-lien notes due 2026 (Caa3/CCC-) slid 2 points in heavy trading that topped $19 million, putting it at the top of the most active distressed names traded over the day, a source said.
The company’s 7½% senior secured first-lien notes due 2029 (Caa1/B-) fell around ½ point to 67¾ bid on $5 million of secondary volume during the session.
DISH Network Corp.’s notes also attracted a chunk of the day’s distressed trading.
DISH’s 7¾% senior notes due 2026 (Caa2/B-) finished flat at 75 bid on $11 million of secondary supply, a source said.
The 5 1/8% senior notes due 2029 (Caa2/B-) went out at 54 5/8 bid on $11 million of volume, too.
DISH’s 7 3/8% senior notes due 2028 (Caa2/B-) slipped ¾ point to 62½ bid on $6 million of supply on Wednesday.
In other distressed paper, Rite Aid Corp.’s 8% senior secured notes due 2026 (Caa3/C/B) traded 1 3/8 points lower at 60 7/8 bid in thin activity, a source said.
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