Thursday, March 13, 2014

Genco Color

Hearing that Genco bank debt is trading around par - term loans (a $75.5mm and $180.8mm) were quoted ~105 midpoint today, while the revolver (fully-tapped, $1.05 billion) was quoted at ~102 earlier this week.

But the convertible notes have been trading in the low 60s - the fulcrum security. 

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