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AMC lower; CSC paper mixed; Sinclair softens; DISH mostly up; short demand high
By Cristal Cody
Tupelo, Miss., Feb. 28 – AMC Entertainment Holdings, Inc.’s bonds softened ahead of the company’s aftermarket release of its fourth-quarter and fiscal 2023 earnings results.
AMC’s 10% senior secured second-lien notes due 2026 (Caa3/D) declined 1½ points to 76½ bid on more than $35 million of paper traded, sources said.
CSC Holdings, LLC’s 4 5/8% senior notes due 2030 (Caa2/CCC+) traded flat to ¼ point higher at 55¼ bid on $8 million of volume after attracting $27 million of trading in the prior session, a source said.
DISH DBS Corp.’s notes were mixed with the 5¾% senior secured notes due 2028 (Caa1/B-) flat at 69¼ bid, a source said.
Sinclair Broadcast Group, Inc.’s bonds softened over ¾ point to more than 1 point in front of the company’s earnings report released after the market closed, a source said. The 5½% notes due 2030 (Caa1/B-) fell over ¾ point to a 69 handle on more than $12 million of volume.
Short-term paper remains a key focus in the fixed income market.
“We see a lot of demand on short-term paper on the trading desk,” a source said. “An incredible amount of money is being invested inside of one year. Other than that, there’s not much change. Rates are pretty close to where they were – flat curve – where we’ve been for a while now.”
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