No. of Recommendations: 1
Anybody have any anecdotal data on Bond price performance (short term) on the expiration of QIB/144A exchanges?

I have a bond (DNR '21's) undergoing a distressed exchange. The bonds have rallied strongly with oil but also I believe with buying pressure from QIB funds that can participate in the exchange.

I assumption is after the exchange, some air will be let out of the bonds as they are now slightly subordinated (though with less overall debt).

Any anecdotal experience would be helpful.

I find the DNR's attractive, but I think the rally has overdone the move in oil, and I think it may be due to the exchange which expires in ~1 week.
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