Leap Wireless International's vendor financing paper continued to perform in the secondary loan market and, staying true to its name, jumped from the 61-621/2 context to the 71-72 range over the last month. The paper has leapt more than 50 points over the last year. Leap Wireless' plan of reorganization has been approved by the bankruptcy court, but the company needs to obtain Federal Communications Commission approval for the change of control of licenses that will occur when Leap Wireless emerges from bankruptcy.
Leap Continues Upward Bound