Freeport Bonds Hit Historic Highs On Earnings, Debt Payoffs

Freeport McMoran’s bonds soared to historic highs this week after the world’s largest mining company reported third quarter earnings that beat estimates. Freeport’s 8 1/4 notes due April 2015 jumped 1% on Wednesday, the most since last week when it climbed the most in a month, to 109.3.