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Trading remains light; Momentive jumps on reset rate ruling; BB&B improves slightly
By Abigail W. Adams
Portland, Me., April 22 – The distressed debt space saw another session of light trading volume with few names active on Monday.
However, Momentive Performance Materials Inc.’s 3.88% senior notes due 2022 were in focus with the notes jumping following a court ruling in favor of creditors.
Monday also marked a strong day for energy names with crude oil futures catapulting past $65 a barrel.
California Resources Corp.’s bellwether 8% senior notes due 2022 followed suit with the notes gaining ¾ point.
While volume was light, Bed Bath & Beyond Inc.’s 5.165% senior notes due 2044 were slightly improved following a shakeup on the board of directors.
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