NASD announces new Trace 50 list

New York, July 9 - The NASD announced the new Trace 50 list of high-yield bonds for which trade information will be publicly release.

The list, which has 38 changes, goes into effect on July 14.

The old 50 bonds had been in place since Trace replaced the FIPS system on July 1.

In future, the NASD said it expects to revise the list of disseminated high yield issues quarterly.

Trace (Trade Reporting and Compliance Engine) is intended to improve transparency in the debt markets.

NASD members are required to report trades in Trace-eligible securities - which means most corporate bonds.

Transaction information is publicly disseminated on some issues including 50 high-yield bonds. Initially the list of junk debt was similar to the FIPS 50. Information is also released on 4,650 investment-grade bonds, a figure increased from 500 on March 3. The NASD increased the number of triple-B bonds to 120 from 90 on April 14.

The new Trace 50 list is:

AES Corp. 9.5% due 2009, AK Steel Corp. 7.75% due 2012, Ahold Finance U.S.A., Inc. 8.25% due 2010, Alliance Imaging Inc. 10.375% due 2011, Allied Waste North America Inc, Series B 10% due 2009, Amazon.Com, Inc. 4.75% due 2009, American Tower Corp. 9.375% due 2009,

Collins & Aikman Products Co. 10.75% due 2011, Dana Corp. 9% due 2011, Dura Operating Corp., Series D 9% due 2009, Dynegy Holdings Inc. 8.75% due 2012, Echostar DBS Corp. 9.375% due 2009, Felcor Lodging LP 9.5% due 2008, Georgia-Pacific Corp. 8.125% due 2011,

HMH Properties, Inc. Series B 7.875% due 2008, Harrah's Operating Co., Inc. 7.875% due 2005, Hexcel Corp. 9.75% due 2009, Huntsman ICI Chemicals LLC 10.125% due 2009, Levi Strauss & Co. 11.625% due 2008, Lyondell Chemical Co. 9.875% due 2007, Mediacom Communications Corp. 9.5% due 2013,

Nextel Communications, Inc. 9.375% due 2009, Nortel Networks Ltd. 6.125% due 2006, OM Group, Inc. 9.25% due 2011, Oregon Steel Mills, Inc. 10% due 2009, Owens-Brockway Glass Container Inc. 8.875% due 2009, Primedia Inc. 8.875% due 2011,

SPX Corp. 6.25% due 2011, Samsonite Corp. 10.75% due 2008, Six Flags, Inc. 8.875% due 2010, Starwood Hotels & Resorts Worldwide, Inc. 7.875% due 2012, TECO Energy, Inc. 7.2% due 2011, Tembec Industries Inc. 8.5% due 2011, Tenneco Automotive Inc., Series B 11.625% due 2009, Tesoro Petroleum Corp., Series B 9% due 2008, United Rentals (North America), Inc., Series B 10.75% due 2008, United States Steel Corp. 9.75% due 2010, Venetian Casino Resort LLC/Las Vegas Sands, Inc. 11% due 2010.

It also includes the following convertibles: Advanced Micro Devices, Inc. 4.5% due 2007, Agere Systems Inc.6.5% due 2009, Cephalon, Inc. 2.5% due 2006, E*Trade Group, Inc. 6% due 2007, Freeport-Mcmoran Copper & Gold Inc. 8.25% due 2006, Gap, Inc. 5.75% due 2009, Genzyme Corp. 3% due 2021, ICN Pharmaceuticals, Inc. 6.5% due 2008, J. C. Penney Co., Inc. 5% due 2008, Sepracor Inc. 5.75% due 2006, Symantec Corp. 3% due 2006, Teradyne, Inc. 3.75% due 2006.

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