JEF - Jefferies Group

[Grenville]

Jefferies starting to look interesting again.

It's nice to see Jefferies bonds holding up much better this time around. A good sign for the equity.

[txlaw]

Jefferies starting to look interesting again.

It's nice to see Jefferies bonds holding up much better this time around. A good sign for the equity.

I'd like to think so.

Interesting to see JEF be the syndication agent for these high profile high yield loans.  First the Harbinger loan.  Now CHK.

[txlaw]

Also, if you believe there will be a lot of M&A in the O&G space, as I believe there will be due to low nat gas prices and leveraged companies (such as CHK), Jefferies will certainly benefit from that increased activity.

Let's not forget the recent Samson-KKR deal, as well as the XOM-XTO deal.

[txlaw]

http://www.businessweek.com/news/2012-05-15/chesapeake-oil-asset-may-fetch-an-extra-billion-energy

In addition to originating a $4 billion "bridge loan" to CHK, JEF and GS are advising CHK on the Permian asset sales, and probably other divestitures as well.

[Grenville]

Article on Jefferies growth in energy and deals with Chesapeake:

"Chesapeake Turns To Jefferies’ Eads In $28 Billion Deals: Energy"
http://www.bloomberg.com/news/2012-05-17/chesapeake-turns-to-jefferies-eads-in-28-billion-deals-energy.html