AMC active, bonds unchanged; Bed Bath & Beyond, Community Health up; Logan drops

By Cristal Cody

Tupelo, Miss., Aug. 8 – AMC Entertainment Holdings, Inc.’s 10% senior secured second-lien notes due 2026 (Caa3/CCC-) saw heavy trading on Monday that put it at the top of the most active junk and distressed names in the secondary market.

The notes traded flat at 84¼ bid on $47 million of volume, a market source said.

The issue went out Friday more than 2 points better on $28 million of supply.

Bed, Bath & Beyond Inc.’s 5.165% senior notes due 2044 (Caa3/B) also were among the most active distressed issues seen over the session, a source said. The notes rose 1¾ points to 19 bid on $10 million of volume.

In other distressed paper, Community Health Systems Inc.’s notes traded 2 points better.

CHS/Community Health Systems, Inc.’s’ 6 7/8% senior secured second-lien notes due 2029 (Caa2/CCC/CCC) rose 2 points to 61 bid on $5 million of volume, a source said.

In China’s distressed property developer space, Logan Group Co. Ltd.’s paper declined after the company reported Sunday that it will not make the interest payments on several dollar bonds.

Logan’s 4.7% senior notes due 2026 (Caa3) traded at 9 bid, down from where the issue was last seen in July at the 13 bid range, a market source said.

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