The events of Sept. 11 sent airplane parts supplier Hexcel Corp.’s bonds into distressed territory on fears of trouble in the commercial aerospace sector. But a few high yield analysts said Hexcel’s $340 million in 9.75% senior subs were trading on the cheap. Hexcel’s notes traded in the 50s at press time, down from 80 prior to Sept. 11. And if orders for new airplanes don’t dip any lower, expect the bonds to creep up in the coming months, sources said.
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