Saturday, March 21, 2015

Low low distressed debt trades

  • RadioShack bonds traded last week with a 5 handle.
  • The Walter Energy 8.5s traded at 6.25; massive current yield!
  • The EXXI 3s traded in the high 20s - low 40%s ytm.
  • Molycorp secured debt moved down about 15 points into the high 40s - around 30% ytm. People had gotten way too optimistic before earnings.
  • The Molycorp 6s unsecured and the 3.25s unsecured are both single digit now. The 3.25 ytm is over 400%!
  • Goodrich bonds have come down into the mid 40s again. That's a ytm inthe mid 30%s.


Anonymous said...

When will RSH stock be cancelled?

Anonymous said...

Has Lightspeed been increasing their position in the equity?

Anonymous said...

Any updates on the cancellation timeline for RSHCQ?