Tuesday, August 6, 2013

More Suntech Resturcturing News ($STP)

Reuters article: "creditors to take a haircut"

"The restructuring of Suntech's domestic debt is being closely watched by overseas creditors, whom analysts say are expected to recover a fraction of their capital at best."
Another Financial Times article,
"Since March, there have been a number of surprises. Until then, creditors assumed that China Inc would bail out the ailing company “in the mysterious Chinese way,” says one creditor. That didn’t happen."
A correspondent posted on our previous post.

It is amazing how languid the trading in holding company bonds is. And based on the bond market, everyone thinks that the holding company equity is faarrrr out of the money.

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