Battery Maker Charges Higher

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Battery Maker Charges Higher

Exide Technologies' bank debt has been fairly active the last couple of weeks with chunks trading in the 59-61 context. Last week a small piece, which traders classified as less than $4 million, was auctioned off in the 61 range. A foreign bank was the seller, but the buyer could not be determined. Two weeks ago, some $10.6 million traded out of the hands of an original lender. The trade was completed in the 59-60 context. The paper has been climbing up from the low 50s, but the reason for the bounce could not be determined. Recently the company hired Biagio Vignolo, Jr. to be its new CFO. Vignolo could not be reached by press time.

 

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