RE:RE:RE:Value of U debenturesSeems odd to me that the debenture holders are all small retail. I would have expected to see various funds, many of whom would have bought at par and be looking at a loss position and as stratochief says, be willing to accept the offer because of same payment and free up some of their money, the market being too thin to sell all at once. Maybe your source is in error?
Capharnaum wrote: Stratocheif wrote: I think its a done deal. Most of this debenture is held by funds and they will vote for it because thats what they want. They probably assesed the risk here and decided they wanted some of thier money back. For ivq its a bad deal but they probably had no choice. If you had 12000 there and got 600 a year interest after the change you still get 600 a year and you only have 9300 or so tied up there. Ivq still has the high interest expense and 10 million less cash on hand. The reason the debentures are down so much is some people want out and i dont blame them. Ive had many like these....some went to zero. When you buy a debenture you expect your money back at end of term. When they start this shinannagence its a sign of possible trouble. No one wants that. Id be out too but i bought 5 years ago at 96 so im not happy to take a loss like that. I'll stay on and hope for the best. At least i got 5 years of interest and now i get 22% of my money back and still get the same interest payment
Nope, I checked and the two main funds don't hold a single debenture. There ain't no holders above 10% either. .