Tuesday, March 12, 2013

Bloomberg: "Suntech Must Make Friday Debt Payment, Bondholders Say" ($STP)

The bondholders have an “absolute right” to be repaid the principal when the bonds mature, Cohen said in an interview yesterday. “It doesn’t matter that a majority or 60 percent wants to wait 60 days.”

7 comments:

Stock Chump said...

I find it hilarious that this Trondheim fund would advertise that they own a bunch of STP bonds that are about to be worthless or near worthless...

Walter said...

They probably own puts too and thus want to push Suntech into BK :)

GZ said...

By disclosing their bond position?

Stock Chump said...

I want to call them and say hey want to buy some more STP bonds? The yield to maturity is something like 50,000%... are you sure you don't want more? You're leaving a lot of money on the table...

Jason said...

I find this comment thread hilarious

C.R.L. said...

"I find this comment thread hilarious" Agree!!!

Luke Smith said...

Bailed out by Wuxi government?