AMC bonds push higher; Diamond Sports moves up; Bausch Health lower; Adani volatile

By Cristal Cody

Tupelo, Miss., Jan. 31 – The distressed debt secondary market stayed busy on Tuesday with several names seen trading over the session.

AMC Entertainment Holdings, Inc.’s notes were more than 1 point to about 2 3/8 points higher.

The 7½% senior secured first-lien notes due 2029 (Caa1/B-) went out better than 1½ points at a 58 handle on nearly $12 million of volume, a source said.

Diamond Sports Group LLC’s secured and unsecured notes rose about ¼ point to ½ point after declining 1/8 point on Monday.

Diamond Sports’ 5 3/8% senior secured notes due 2026 (Caa3/CCC-) were quoted moving about ½ point higher to a 7 handle on Tuesday on $6.5 million of secondary trading, a source said.

Bausch Health Cos. Inc.’s paper mostly softened by about 1 point to more than 2 points on Tuesday.

The 4 7/8% senior secured notes due 2028 (Caa1/B-/B) traded down over 1 point to 65 bid by the day’s end on $7 million of volume, a source said.

Meanwhile, Adani Green Energy Ltd.’s paper has been volatile with the 4 3/8% senior secured notes due 2024 (Ba3) up 7½ points at 79 bid on $3.5 million of volume on Tuesday, a source said.

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