Best Buy Credit-Default Swaps Tumble After $1 Billion Bond Sale
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The cost to protect bonds from Best Buy Co. dropped the most in 10 months after the world’s largest consumer electronics retailer issued $1 billion of the debt yesterday.
Its credit-default swaps fell 18.2 basis points to 135, according to data provider CMA. That’s down from 177.5 basis points on Feb. 2 and the biggest drop since May 10.