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AMC, CHS, Vine Oil & Gas bonds rise; Occidental slips; Frontier Communications active
By Cristal Cody
Tupelo, Miss., Jan. 26 – AMC Entertainment Holdings, Inc.’s bonds continued to gain on Tuesday after the company’s paper rallied Monday on the heels of additional funding raised.
The company’s 12% second-lien senior secured notes due 2026 (Ca/C) climbed 4 points to 53 bid in heavy trading on Tuesday, a source said.
AMC’s 5¾% senior subordinated notes due 2025 (Ca/C) traded up 2 points at 37 bid on Tuesday after rising 7¼ points in the prior session.
On Monday, AMC announced that as of Dec. 14, the company has raised or signed commitment letters to receive $917 million of new equity and debt capital, staving off any talk of an imminent bankruptcy.
Meanwhile, Community Health Systems Inc.’s bonds climbed higher over Tuesday’s session as the company returned to the primary market for a second time this month.
And Frontier Communications Corp.’s notes were active with the company’s 7 5/8% senior notes due 2024 quoted at 51¾ bid, a source said.
Distressed energy bonds were mixed in secondary trading on Tuesday, a source said.
Vine Oil & Gas, LP’s 9¾% senior notes due 2023 (Caa2/CCC-) traded 5 points better at 93¼ bid.
Occidental Petroleum Corp.’s 4.4% senior notes due 2049 (Ba2/BB-) softened more than 2 points to 86 bid on Tuesday.
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