Post by
JustforFun7 on Oct 20, 2015 1:19pm
Cost of bond offering
Today CXR priced its bond offering at 9.5%, quite a bit higher than 7% early this year. The market smells risk. The downside was just over run this morning.
JFF7
Comment by
tankingfrank on Oct 20, 2015 1:30pm
yeah i think that the reason for the drop... they said it was being done @ 7.5% and it comes in higher.. so i guess they had a tough time selling it.. and interest cost just went up ..
Comment by
dudsywow on Oct 20, 2015 1:37pm
They never said this bond offering was at 7.5%... they said their overall financing structure would be 7.25% max. which won't change with their numbers tomorrow Everyone should have know this unsecured bond would be 9.5% since their existing bond is trading at 10%. Regardless, this thing is in the tank for awhile.