Coal miner Murray's bonds plunge after Trump administration snub

Bonds of Murray Energy, the biggest privately owned US coal producer, fell the most in 15 months after the White House denied the company’s request to aid one of its power-plant customers, an action it said would help both companies avoid bankruptcy. The miner’s $1.1 billion of 11.25% bonds due in 2021 fell 7 cents on the dollar on Wednesday and were quoted at 61 cents on the dollar, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. It was the biggest decliner and the most actively-traded security in the US corporate bond market, the data show.