RE:RE:RE:RE:Re prem and debentureRegardless of share price upswings, or downswings, it is still important to hold the BoD and management accountable.
I was not aware until today that Crowdstrike very recently issued US$750m 3% junk debt, due in 8 years. Demand totalled US$6B - this means the market set the final pricing/ yield. The market, not a few insiders.
Yes, 3% is much higher than 1.75%, but not convertible. Plus 8 years vs 3 years.
This deal is not proof, but certainly is an indication that perhaps BBs Sept 1, 2020 issuance of US$365m of 1.75% 3 year debentures convertible at just US$6 was not in the best interests of shareholders. I say "shareholders", not "shareholders and BB", because BB is not impacted by dilution. Shareholders are impacted and very negatively the higher the Equity Value goes.
There have to be other recent debt deals out there for comparison. Anyone know of any ?
There is an AGM coming up in June 2021. Directors get elected, re-elected or not.