Number Of The Day.... Junk Bond Sales
And i bet the three in August had to made substantial concessions like Home Depot to unload the debt.... :-)
Und ich gehe jede Wette ein das die 3 glücklichen im August erhebliche Zugeständnisse wie im Fall Home Depot gemacht haben.... :-)
Und ich gehe jede Wette ein das die 3 glücklichen im August erhebliche Zugeständnisse wie im Fall Home Depot gemacht haben.... :-)
Eleven junk-rated borrowers have sold bonds since the beginning of July, compared with an average of 41 a month in the first half of the year, Bloomberg data show. Three found buyers in August.
Labels: .... of the day, covenant, credit crunch, junk, risk aversion, spreads, toggle bonds
posted by jmf at 10:40 PM
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6 Comments:
Apparently existing junk is finding buyers, however.
eh
Moin Eh,
i have found my number in the same article.
Have forgotten to link the headline :-(
But at much higher prices :-)
And all this with defaults close to record lows. Wait until the first major defalut will hit the market by "surprise"
National Australia Bank CEO says banking system is coping with subprime fallout
Moin jmf,
I am actually impressed by the buyer's strike. Last go 'round in the '80s they all waited until the bonds were obviously worthless before they quit buying. I guess they decided to quit throwing money to the con men.
Moin Edgar,
lets hope that GS & co will have to eat some meaningful losses on their bridge loans....
SCHADENFREUDE!
The buy-out boom is not dead, it’s just metamorphosising…
JPMorgan is left holding the bag on $70bn in hung LBO bridge loans...
Meanwhile, says Cohan, Blackstone’s rival, KKR, has more pending LBOs - $80bn worth - than any other private-equity firm....
...lets hope that GS & co will have to eat some meaningful losses on their bridge loans...
:) :) :) :) :) :) :)
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