A $1.3 billion asset sale pushed up levels for JC Penny Funding Corp. to the mid-90s. A $5 million piece of Emmis Communications' bank debt traded at 100 as the company announced a $200 million bond deal. Charter Communications traded at 99.375.
In distressed news, Owens Corning traded at 51 1/4 in an auction. A $39 million piece of Laidlaw's bank debt traded at 50.