Deals
Jefferies Distressed Loss Said to Near $100 Million in 2015
- Losses said to stem mainly from debt of energy companies
- About half of the team's loss said to have come since May
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A team of distressed-debt traders at Jefferies Group lost almost $100 million this year as the rout in oil prices battered the value of bonds and loans of energy companies, according to people with knowledge of the performance.
The trading group incurred most of its losses from energy companies including Samson Resources, the driller that said Aug. 14 it was planning to file for bankruptcy protection, the people said Thursday. About half of the losses came during the firm’s fiscal third quarter, which began in June, one of the people said. The bank said it made $153.4 million trading across all fixed-income markets during the previous quarter.