Asbestos names traded up as a bill that aims to cap companies' asbestos liabilities was heard before the Senate last week. USG's revolver traded up a point to 138-139, while Owens Corning's revolver also traded up a point to the 150-151 range.
The asbestos bill on the Senate floor is backed by Republican Sen. Arlen Specter and Democrat Sen. Patrick Leahy. The legislation would create a $140 billion trust fund to pay the victims of asbestos exposure. The fund would be financed by asbestos makers, companies that used the material and their insurers. Progress on the bill has been stalled by disagreement among unions and Democrats over its structure.