Le-Nature Debt Rises On Possible Asset Sale
Le-Nature has steadily been climbing, trading in the mid 57 range, according to Markit. It had been trading in the low 50s and in the 40s in January. According to a Goldman Sachs report the term loan has risen due to potential asset sales: a real estate agency is supposedly selling the premium beverage maker's bottling plant in Phoenix.
Chrysler Spreads Rally After Job Cut
Damiler Chrysler's 8 1/2 '31 bonds tightened eight basis points and its five-year credit default swaps tightened five to six points after the auto producer announced it is cutting 13,000 jobs in a move already being called the "Valentine's Day Massacre."
Other autos remained mostly unchanged. GM's '33 bonds were up 1/4-3/8 of a point. GMAC's bonds were also up slightly and its CDS tightened two basis points to trade around 100-102. Five-year CDS for Ford also tightened five basis points, according to a trader.