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.”
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7 comments:

  1. JoshMarch 12, 2013 at 4:26 PM

    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...

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  2. WalterMarch 12, 2013 at 4:59 PM

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

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  3. GZMarch 12, 2013 at 10:41 PM

    By disclosing their bond position?

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  4. JoshMarch 12, 2013 at 11:02 PM

    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...

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  5. JasonMarch 13, 2013 at 5:41 AM

    I find this comment thread hilarious

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  6. C.R.L.March 13, 2013 at 6:38 AM

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

    ReplyDelete
  7. Luke The DebtorMarch 13, 2013 at 9:39 AM

    Bailed out by Wuxi government?

    ReplyDelete