Friday, March 23, 2012

Cheap Debt, Upcoming Maturities, and Big Market Caps

Ticker Company Maturity Bond Price Market Cap Optionable
GMXR GMX Resources Feb 13 65 100 Y
MNKD MannKind Dec 13 56 285 Y
THQI THQ Aug 14 50 42 Y
USU USEC Oct 14 47 147 Y
KV-A K-V Pharma Mar 15 67 80 Y
YRCW YRC Worldwide Mar 15 36 60 Y
GMXR GMX Resources May 15 49 100 Y
ATPG ATP Oil & Gas May 15 75 400 Y
JRCC James River Coal Dec 15 62 200 Y
HMIN Home Inns & Hot Dec 15 77 1200 Y
DNDN Dendreon Jan 16 78 1500 Y
AONE A123 Systems Apr 16 41 250 Y

6 comments:

effmanny said...

I love your blog. Been reading for over 3 years. Can you please explain the play here?

CP said...

The idea is that the stocks are overpriced relative to the bonds.

PD said...

good job cp, too bad i am restricted... i am not big on y anymore, because the union screwed the last debt to equity conversion, and that just puts too much j risk on it...

PD said...

good job cp, too bad i am restricted... i am not big on y anymore, because the union screwed the last debt to equity conversion, and that just puts too much j risk on it...

CP said...

What are you talking about? YRCW?

PD said...

yes.