John Maneely Sale Sends Loans Soaring

13 Aug 2008

John Maneely’s loans skyrocketed to 98 1/4-99 by Wednesday afternoon after The Carlyle Group announced it had sold the steelmaker to Russian OAO Novolipetsk Steel for $3.5 billion.

John Maneely’s loans skyrocketed to 98 1/4-99 by Wednesday afternoon after TheCarlyle Group announced it had sold the steelmaker to Russian OAO Novolipetsk Steel for $3.5 billion. The loans were trading at 92 1/2-94 Monday and “moved pretty aggressively” after the deal was announced, one trader said. ...

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