NRG, Sector Jump After Takeover Bid October 20, 2008

NRG Energy bonds and loans jumped five to seven points today after Exelon’s $6.2 billion bid for the Princeton, N.J.-based energy producer. The bonds hit a high of 88 1/4 this morning before trading back down to 86 7/8 around noon, still well above Friday’s closing price of 81. The bank debt rose over five points to 85 1/2-88 1/2 Monday, from Friday’s close of 80. Other energy names moved on the news as ...

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