TSX:LSG.DB - Post by User
Comment by
bigdaddycashon Sep 04, 2015 12:45pm
256 Views
Post# 24079377
RE:RE:Debs & Low SP
RE:RE:Debs & Low SPthey can only "buy them at par" in two circumstances:
1) Prior to maturity: Through a normal course issuer bid IF the market price of the debs is par or less (e.g. $100 or less for $100 face).
2) At maturiry on 9/30/2017 IF they have NOT been redeemed (e.g. the market value of LSG share is less than the conversion price of $1.40).
That is it unless deb holders are stupid (or not paying attention) and do not convert the debs if the LSG share price has been trading at above 130% of the $1.40 conversion price prior to maturity.
So, not sure about your comment - does not really apply to the LSG debs.
gltals...