tag:blogger.com,1999:blog-1527840491496268397.post5114356509958972018..comments2024-03-08T11:20:30.095-07:00Comments on Credit Bubble Stocks: Verso PaperUnknownnoreply@blogger.comBlogger7125tag:blogger.com,1999:blog-1527840491496268397.post-16694992788526260532014-02-05T15:45:10.258-07:002014-02-05T15:45:10.258-07:00What, this bogus exchange offer?What, this bogus exchange offer?CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-40752291211576822502014-02-05T15:41:32.781-07:002014-02-05T15:41:32.781-07:00Apollo owns some bonds too. This has been a long t...Apollo owns some bonds too. This has been a long time coming ever since they tried it when NewPage was bankruptcy. Every party here knows this is the only way going forward.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-44398290633474793922014-02-05T15:38:53.183-07:002014-02-05T15:38:53.183-07:00It's just a hilariously bad proposal for the b...It's just a hilariously bad proposal for the bonds.<br /><br />In fact, the stock basically rallied by the amount that they thought the bonds were going to be shafted out of.CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-83877026111682760742014-02-05T15:06:12.841-07:002014-02-05T15:06:12.841-07:00I suppose that's what they thought. You might ...I suppose that's what they thought. You might see a sell off in the equity soon if there is concern the deal will collapse.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-44688585433357578132014-02-05T14:23:12.440-07:002014-02-05T14:23:12.440-07:00APO, Lasry, and Aristea all own the equity.
http:...APO, Lasry, and Aristea all own the equity.<br /><br />http://finance.yahoo.com/q/mh?s=VRS+Major+Holders<br /><br />I wonder if the bonds are perceived as dumb money and the management/owners thought they could stuff the bonds?CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-82861809733864307642014-02-05T11:33:10.570-07:002014-02-05T11:33:10.570-07:00This looks like a win-win. For the deal to close, ...This looks like a win-win. For the deal to close, bondholders will dilute the equity substantially. If the shareholders don't agree, then the deal will not close and the price will fall substantially. APO owns >60-70% of VRS. Who owns the bonds -- is there any concentration of ownership?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-3642140874564831722014-02-04T23:24:20.712-07:002014-02-04T23:24:20.712-07:00That may be true in theory.In practice,shareholder...That may be true in theory.In practice,shareholders have some negotiating power inasmuch as they have to agree to any deal - they can prevent the deal from going through.Anonymoushttps://www.blogger.com/profile/10135053674132049124noreply@blogger.com