Business & Finance
Charter Junk Bonds, CDS See Record Moves on Bets of Comcast Deal
Key Points
Charter Junk Bonds, CDS See Record Moves on Bets of Comcast Deal Some Charter Communications Inc. debt securities saw record improvement Monday, as traders bet that rival Comcast Corp.’s pending breakup could result in a combination of the two broadband heavyweights. The US junk-bond market’s biggest gainers were largely notes of debt-laden Charter.
Charter Junk Bonds, CDS See Record Moves on Bets of Comcast Deal
Some Charter Communications Inc. debt securities saw record improvement Monday, as traders bet that rival Comcast Corp.’s pending breakup could result in a combination of the two broadband heavyweights.
The US junk-bond market’s biggest gainers were largely notes of debt-laden Charter. Its 7% note due in 2033 rose as much as 4.125 cents on the dollar, the most since the bond was sold in January, and approached face value for the first time in two months, according to Trace data.
[Image text:] COMCAST
T2AMC