RE:RE:RE:RE:2022 Notes@ Maxmoe - You posted...... "Bond holders can take it or not. Or the company can buy the bonds in the market any time they want at any price they want." That my friend is not accurate.
ATH has the right to call its bonds and if ATH exercised that right then the bond holders must surrender them. It would happen the same way as what happens with a successful takeover bid. On the effective date, the securities disappear from your account and the corresponding funds appear. There is no take it or not involved.
Prior to the effective date, ATH bonds can trade in the bond market for whatever the market will bear but that's simply bond trading which is seperate and distinct from a redemption.