Callon Petroleum (CPE) Calls for Remaining 9.75% Notes due 2010 at 101
From the press release:
Callon Petroleum Company today announced that it intends to redeem $16,052,000 of its 9.75% Notes due 2010 (the “Notes”), representing all remaining Notes outstanding after the completion of the previously announced exchange offer.What a trade this has been! Remember, it was only November when we were buying the Callon notes in the 60s!
Callon expects to redeem the Notes on April 30, 2010 (the “Redemption Date”) at a redemption price of 101.0% of their principal amount, plus accrued and unpaid interest to the Redemption Date.
I'm not excited about having mine called at 101 - I would actually be a buyer at that price - but, c'est la vie.
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2 comments:
What is your opinion of CPE common shares, now and going forward?
Are you short or long CPE common shares, and why?
Much thanks for sharing your info and views.
I have no position in CPE equity.
My instinct is that it's overpriced now, but I could be convinced otherwise.
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