Exide Continues To Yo-Yo

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Exide Continues To Yo-Yo

Exide Technologies' bank debt bounced around from the high to the low 80s before settling in the 81-83 range last week.

Exide Technologies' bank debt bounced around from the high to the low 80s before settling in the 81-83 range last week. Traders said there have been significant changes in the ownership of Exide's bank debt since the bankruptcy court sent the company and its creditors back to the drawing board to renegotiate a new plan of reorganization (LMW 1/12). Angelo Gordon & Co., BlackRock, Citadel Investment Group and R2 Investments have been major holders in the past. An attorney for Exide did not return calls by press time. Credit Suisse First Boston is the lead on the credit. Bank debt players have about $729 million in claims against the company.

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