AM General’s Bond Jumps After Etching Vehicle Deal with Israel

A bond issued by PM General Purchaser— an entity related to military vehicles maker AM General — jumped on Monday following news that Israel’s Defense Ministry had signed a $150 million deal to purchase hundreds of light combat mobility vehicles.

• AM General’s 9.5% bond due in 2028 increased 3 cents on the dollar to 72 cents as of 10:40am ET, according to Trace
• Moody’s gave it a long-term corporate family rating Caa1, as of December 2023

NOTE: Bondholders to Humvee Maker Hire Akin as DoD Mulls Pullback

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Georgia Hall ...