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AMC extends rally; EnVen trades up; PBF, Diamond Sports down; Mallinckrodt gains
By Cristal Cody
Tupelo, Miss., April 9 – AMC Entertainment Holdings, Inc.’s bonds mostly rallied over the week on growing expectations of “going back to normal” as vaccinations ramp up across the country, a source said Friday.
The Covid-19 hard-hit cruise sector was a “touch softer” and down about ¼ point, the source said.
EnVen Energy Corp.’s new $300 million of 11¾% five-year senior secured second-lien notes (Caa1/B-) priced Thursday at 98 to yield 12.97% traded higher at 102 to 102¼ bid on $9 million of secondary volume, a source said.
Petroleum refiner PBF Holding Co. LLC’s 6% senior notes due 2028 (B3/B+/B+) fell 1 point to 76 bid during the session, according to a market source.
Also in the distressed secondary space, Diamond Sports Group LLC’s bonds continued to weaken on Friday, a source said.
Bankrupt pharmaceuticals maker Mallinckrodt plc’s bonds remained higher, a source said.
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