RE:RE:RE:Meg buybacks for Mayztransforms173 wrote: - MAYBE (?) they PAUSED NCIB as crude oil prices DECLINED
- BUILDING UP CASH BALANCE to EXECUTE further 2027 7.125% NOTE BUYS as they BECOME AVAILABLE in the BOND MARKET
* the 2027 NOTES are INCREASINGLY DIFFICULT to BUY as the BOND POOL CLASS becomes SMALLER
- in the NEAR FUTURE, they will have to SWITCH to BUYING the 2029 5.875% Notes {USD 600 million} as the REMAINING 2027 Notes 'MIGHT' NOT FOR SALE
z173
As far as bond purchases go, Meg has to pay over par price by 1.5% roughly if they call the 2027 bond and it looks like market purchases are around that price too. ON THE OTHER HAND the last trades I see for the 2029 bonds are trading below par value (97.5% to 96% in April) and can be bought saving even more. I say wait to call the 27 notes until Feb 25 and then pay par and start skimming some 2029 notes now as they see fit.