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AMC higher as trading climbs; QVC declines in active supply; Carvana off; Adani slides
By Cristal Cody
Tupelo, Miss., Feb. 1 – AMC Entertainment Holdings, Inc.’s 10% senior secured second-lien notes due 2026 (Caa3/CC) jumped close to 4½ points in heavy trading that hit $33 million on Wednesday.
The bonds went out at 53½ bid, a market source said.
AMC announced on Tuesday that Saudi Entertainment Ventures will buy out its $30 million investment in the Saudi Cinema Co.
QVC Inc.’s bonds also saw heavy secondary interest over the day.
The 4¾% senior secured notes due 2027 (Ba3/B+) traded down nearly 2 points to 74 bid on more than $17 million of activity, a source said.
Carvana Co.’s notes gave back some gains made at the start of the week with the paper down about ¼ point to more than 2 points on Wednesday.
The 4 7/8% notes due 2029 (Caa2/CCC) shed 2½ points to trade at 42¼ bid on $8 million of volume, according to a market source.
Adani Group remained in focus on Wednesday as the company canceled a share sale that closed on Tuesday in the wake of fraud allegations by a U.S. short seller.
Adani Green Energy Ltd.’s 4 3/8% senior secured notes due 2024 (Ba3) slid 12¼ points to 66¾ bid on $11.5 million of paper traded, a source said.
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