Sell Alert: Frontier Communications 5.875% Bond

The Wall Street Journal has reported today that Verizon is in advanced talks to buy Frontier Communications (Nasdaq: FYBR) in an all-cash transaction. As a reminder, in a change of control Frontier must pay $1,010 for our 5.875% bonds maturing November 1, 2029. The bonds rose over $80 on the news and are currently trading