Bed Bath & Beyond paper climbs; AMC, Wesco, Team Health, Rite Aid up; Adani better

By Cristal Cody

Tupelo, Miss., Feb. 6 – Bed Bath & Beyond Inc.’s paper saw little change ahead of the company’s announcement after the market close on Monday of a $225 million convertible preferred stock offering.

After the announcement, though, the distressed retailer’s 5.165% senior notes due 2044 (C/D) shot up 2 points and were last seen up 5 points at 10 bid on $8.5 million of trading, a source said.

AMC Entertainment Holdings, Inc.’s 10% senior secured second-lien notes due 2026 (Caa3/CC) perked up ½ point to 56¼ bid in strong trading that totaled more than $10 million on Monday, a source said.

Wesco Aircraft Holdings Inc.’s 13 1/8% due 2027 (Ca/CCC-) traded 3 points higher to hit 9½ bid on under $2 million of volume over the day, a source said.

Team Health Holdings, Inc.’s 6 3/8% senior notes due 2025 (Caa3/CCC/CCC-) also saw some secondary action with the issue up 7/8 point at 69 5/8 bid on $1.25 million of trading, a source said.

In other retail paper, Rite Aid Corp.’s 8% senior secured notes due 2026 (B3/CCC-/CCC) added ½ point to trade at 57¼ bid, according to a market source.

Elsewhere, Adani Green Energy Ltd.’s 4 3/8% senior secured notes due 2024 (Ba3) recovered 1½ points to trade at 74 bid, a source said.

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