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AMC notes eyed amid movie industry news; American Airlines rises in travel space
By James McCandless
San Antonio, Dec. 3 – The distressed debt space was preoccupied with shifting winds in the entertainment and airline sectors on Thursday.
AMC Entertainment Holdings, Inc.’s notes varied in direction after a film studio announced a new film release policy for 2021.
The 12% notes due 2026 improved by 5¼ points to close at 31½ bid. The 10½% notes due 2025 lost 3 points to close at 78 bid.
On Thursday afternoon, the Leawood, Kan.-based movie theater chain saw heightened attention after movie studio Warner Bros. announced a change to its film release policy for 2021.
The studio said that in the next year, it would make theatrical releases simultaneously available on the HBO Max streaming platform.
After one month, titles would leave the platform and remain in theaters.
In the travel space, American Airlines Group, Inc.’s paper was on the rise amid positive headlines about the return of the 737 MAX aircraft to service.
The 5% senior notes due 2022 reached up ¾ point to close at 87¼ bid. The 11¾% senior paper due 2025 added 2 points to close at 116½ bid.
During Thursday’s activity, the Fort Worth-based commercial airline was in focus as it showcased Boeing’s 737 MAX after almost two years of being grounded.
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