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Diamond Sports stronger; AMC flat; PBF, Talen soften; Evergrande declines; Kaisa quiets
By Cristal Cody
Tupelo, Miss., Dec. 3 – Paper from Diamond Sports Group LLC and AMC Entertainment Holdings, Inc. led distressed secondary action on Friday.
Diamond Sports’ 6 5/8% senior notes due 2027 (Ca/CC) climbed 3¼ points to 25¼ bid on trading supply of more than $22 million, a source said.
AMC’s 12% second-lien senior secured notes due 2026 (Ca/CCC-) traded flat on Friday at par ¼ bid on $12 million of volume after softening 1¾ points on Thursday.
Energy bonds were weaker.
PBF Energy Inc.’s 6% senior notes due 2028 (Caa1/B/B+) fell nearly 1½ points to the 62 bid area in thin activity, according to a market source.
Talen Energy Supply LLC’s 10½% senior notes due 2026 (Caa1/CCC/B-) declined another 1¼ points to 57½ bid on more than $9 million of volume after shedding 5¼ points in Thursday’s session.
In China’s distressed property developer space, China Evergrande Group’s 8¾% senior notes due 2025 (C/C/C) dropped over 2 points and traded below a 20 handle at 19 7/8 bid early in the session before improving to 20¼ bid, a source said.
Kaisa Group Holdings Ltd.’s 9 3/8% senior notes due 2024 (C//CCC-) were quiet on Friday after soaring about 4¼ points to 37¼ bid on Thursday.
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