Kyle Bass buying secured loans of J.C. Penney, Bloomberg reports
Hedge-fund manager Kyle Bass has accumulated a long position in J.C. Penney over the past two weeks by buying the company's secured loans, Bloomberg reports, citing a person familiar with the matter. Bass also sold credit-default swaps that pay off should J.C. Penney defaults on its debts, an event the investor considers unlikely, the source told Bloomberg.
Terms and Privacy Policy