TITLE

A Gusher of HY for Oil Companies, For Now

AUTHOR(S)
Sheahan, Matthew
PUB. DATE
March 2011
SOURCE
High Yield Report;3/14/2011, Vol. 22 Issue 11, p19
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports the pumping of cash into oil and gas companies by junk bond investors. Factors that paved the situation are presented including high commodity prices, high yield, and oil companies being perceived as better credits. Current deals on the market are discussed such as that of MEG Energy for 500 million dollars in senior notes due 2021, Clayton Williams for 30 million dollars in senior notes due 2019, and Precision Drilling for 206 million dollars in senior notes. The significance of the spreading unrest in the Middle East is examined.
ACCESSION #
59407330

 

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