Lehman bonds plunge after bankruptcy filing -trader
Its senior-ranked bonds fell to 35 cents on the dollar from about 65 cents. -Reuters
Mon, Sep 15, 2008
Reuters
LONDON - Lehman Brothers' bonds plunged on Monday after the firm filed for bankruptcy protection.
Lehman's senior-ranked bonds fell to 35 cents on the dollar from about 65 cents late on Friday, while the bank's subordinated debt fell to 5 cents from around 40 cents, a trader said.
Five-year credit default swaps on Lehman also widened sharply to trade 35 percent upfront, according to CMA.