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DISH paper improves; AMC notes steady in active market; Altice France bonds decline
By Cristal Cody
Tupelo, Miss., July 28 – DISH Network Corp.’s paper saw a turnaround on Friday after midweek losses with the company’s bonds the most active distressed issues traded over the session, a source said.
DISH’s bonds traded over ½ point to more than 1 point higher on Friday in strong trading totaling more than $53 million.
The 5 1/8% senior notes due 2029 (Caa2/B-) traded late afternoon more than 1 point higher at 50¼ bid on $21.6 million of paper changing hands.
DISH’s 7¾% senior notes due 2026 (Caa2/B-) also added 1¼ points during the session to a quote of 63¾ bid. Trading topped $9 million.
AMC Entertainment Holdings, Inc.’s 7½% senior secured first-lien notes due 2029 (Caa1/B-) were changing hands on Friday on nearly $10 million of volume, though the issue was flat over the afternoon at 69 bid, a source said.
The bonds gave back most of the gains made at the start of the week after a court ruled against its lawsuit settlement plans but were going out more than 5 points better on the week.
Meanwhile, Altice France Holding SA’s 10½% senior notes due 2027 (Caa2/CCC) traded down 7/8 point to 42½ bid on $8 million of volume on Friday, a source said.
The notes carried a 42% yield.
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