Investors are dumping bonds tied to the world’s biggest movie theater chain, betting that attendance will remain low despite venues reopening in major markets, the Wall Street Journal reported. The price on AMC Entertainment Holdings Inc.’s $1.4 billion bond due June 2026 dropped below 10 cents on the dollar this week, according to MarketAxess, implying creditors believe they aren’t very likely to get paid back. The company’s $500 million bond due April 2025 was quoted around 60.5 cents on the dollar Thursday, down from 91 cents in early September. The declines contrast with the early-week bounce in AMC’s stock. Shares rose more than 16 percent on Monday following the company’s announcement that it would open a dozen locations in New York state at 25 percent capacity. A day later, the company said it would sell $50 million in shares to bolster its balance sheet.
