Monday, August 27, 2007

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.... :-)

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.

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Anonymous Anonymous said...

Apparently existing junk is finding buyers, however.


3:05 AM  
Blogger jmf said...

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"

3:25 AM  
Blogger jmf said...

National Australia Bank CEO says banking system is coping with subprime fallout

4:04 AM  
Anonymous Anonymous said...

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.

4:11 AM  
Blogger jmf said...

Moin Edgar,

lets hope that GS & co will have to eat some meaningful losses on their bridge loans....


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....

4:43 AM  
Anonymous Anonymous said...

...lets hope that GS & co will have to eat some meaningful losses on their bridge loans...

:) :) :) :) :) :) :)

4:50 AM  

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