Wednesday, October 3, 2012

GMX Resource Bonds Up a Lot ($GMXR)

Looks like the market is finally pricing in the decrease in amounts due 2013 and 2015. The note due February 2013 has rallied from the mid-70s to 91. And the last trade on the 2015s was 50, up about 10 points from before the exchange.
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7 comments:

  1. AnonymousOctober 3, 2012 at 9:33 PM

    When is the next CHK post?

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  2. eahilfOctober 4, 2012 at 2:54 AM

    It's interesting -- at least to me -- how often price action in CHK and UNG is inversely correlated.

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  3. CPOctober 4, 2012 at 6:47 AM

    CHK? What would you like to see?

    Still own the CHKDG. A 6.2% yield with an attractive conversion option.

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  4. ChrisDOctober 4, 2012 at 8:30 AM

    That's great, nice call. Wish I had spent more time looking at it.

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  5. ChrisDOctober 4, 2012 at 8:31 AM

    This comment has been removed by the author.

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  6. C.R.L.October 4, 2012 at 8:50 AM

    Nice call on these. The recent asset sale helped as well.

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  7. CPOctober 4, 2012 at 11:11 AM

    Thank you!

    Yes, they should be able to pay off the 2013s (with stock and cash), but IMO the equity is still far out of the money.

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