Deals
In High-Yield Energy Debt, Contrarian Sees Value Where Everyone Else Sees Defaults
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Most junk-bond investors can’t sell their energy-related holdings fast enough. Then there’s Matt Eagan.
The money manager at Loomis Sayles & Co. is going the other way, buying debt in an industry where an alarming number of borrowers increasingly can’t meet their obligations. He’s lured to yields that have surged to the highest since 2009 on the speculative-grade securities of oil and gas companies -- in some cases to over 30 percent.