CANEXUS CORP 6.5 PCT DEBS T.CUS.DB.D

RE:RE:RE:RE:Slumming

[Kherson]

Tobuyornot wrote: Nothing is for sure but I don't see it in the charts.  CUS bounced on the acquisition announcement but has been mirroring SPB perfectly since Nov. 16 or so.

The bridge financing mollifies CUS debt holders as transaction unfolds.

From the circular:

 

Financing Summary 

 While the Arrangement is not subject to a financing contingency, as part of the Arrangement, Superior has determined to refinance certain Canexus debt. As such, Superior has secured a committed $650 million bridge financing facility with National Bank of Canada and J.P. Morgan Securities LLC to complete the transaction. Permanent financing for the transaction is expected to be obtained in due course through a combination of new debt and equity issuances.  

I will suggest that you carefully read over Canexus' 3rd Quarter results and note what Canexus is valuing their equity at! According to my calculations, the BV of a Canexus share is 6 cents!
Kherson