| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers L > Headlines for Logan Group Co. Ltd. > News item |
AMC notes decline; Logan paper lower; Agile holds onto gains; China bond defaults eyed
By Cristal Cody
Tupelo, Miss., Jan. 27 – AMC Entertainment Holdings, Inc.’s notes saw declines on Thursday with the paper trading about 2 points to 2¼ points weaker in the distressed secondary market.
AMC’s 10% senior secured second-lien notes due 2026 (Ca/CCC-) declined 2¼ points to 92½ bid by the close, a source said.
AMC’s 6 1/8% senior subordinated notes due 2027 (Ca/CCC-) also fell 2 points to 69 bid.
Looking at China’s distressed property developer space, Logan Group Co. Ltd.’s paper softened following S&P Global Ratings’ placement of the company on CreditWatch with negative implications.
Logan’s 5¼% senior notes due 2023 (Ba3/BB-/BB) fell 2½ points to 85 bid, a source said.
Agile Group Holdings Ltd.’s 5¾% senior notes due 2025 (B) were quiet after adding 7½ points to hit 45 bid in the prior session.
China’s corporate bond default rate is expected to be pushed up by privately owned property developer defaults in 2022, according to a Fitch Ratings report on Thursday.
The space’s maturing or putable bonds will climb to $30 billion in the first half of 2022 from $21.2 billion in the second half of 2021 and $27.9 billion in the first half of 2021, Fitch noted, which “should result in more developer defaults, including distressed debt exchanges.”
© 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.