Concordia Healthcare Corp. T.CXR.R

someone walk me through the short box trade

[rad10]

I am just a blue collar doc - grinding out a living and investing to retire a few years earlier - got caught holding the bag on this garbage.  Walk me through this box trade.  It seems like we are caught in the middle  of a peepee contest with the big boys...........

1 - the secured first lien hasn't budged since early november  (I have a few thousand face value in this at 86 and change)
2 - impressive rally on the common over 2 trading days (my cost basis is nearly 20 bucks - ouch)
3 - non secured debt is dropping. (no exposure)

How does squeezing the non secured debt benefit the stock?  The non secured is higher up the capital structure.  Is it walked down in order to load up, or for it to be bought up and retired by the company - if so how does it get walked down?

[GenericAdvocate]

rad10 wrote: I am just a blue collar doc - grinding out a living and investing to retire a few years earlier - got caught holding the bag on this garbage. Walk me through this box trade. It seems like we are caught in the middle of a peepee contest with the big boys........... 1 - the secured first lien hasn't budged since early november (I have a few thousand face value in this

[DanKwong1958]

Rad, How did you get into the first lien notes?  I thought they were only available to institutional investors from Goldman?  And I agree that there is a pissing contest, but it is a question of between who.  I think it is between the secured holders now and judging with what has come out of the company in the last two months it has been for quite some time.  Now I get why RBC

[rad10]

I called the bond desk of my brokerage and had to specify and wait to see if they became available.  They are VERY illiquid.

[Craigbad]

I wonder how the people who bought the first lien notes at full price feel after reading the presentation. The revenue dropped 20% from the presentation in such a short time span. They likely are paying a signing bonus to AO, have to pay 2 years salary to MT, had the Cma investigation launched, UK pricing bill etc and will lucky to be able to cover interest payments from cashflow within a quarter

[Health123]

That presentation was an insult to bankers....   and pro forma  !!!!    I am eager for MT's exit package to become public ...  and I hear that MT is still MIA.  (Now he is listed as a non-insider on SEDI so we will never know how many shares he dumped into the pump - or at least we won't know for a while)   Perhaps he is still at a non-extradition country

[borrowedlife]

What does that mean rad?