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

Con Sub Deb

[seriousinvest]

I fdon't understnad why they are not trading at least at par.  Superior's bonds are trading at par with interest rates 2/3% lower.  Am I wrong in assuming that Superior will assume the debt(the conversion privilege is way out of the money)?

[Kherson]

The market is concerned that Canexus may go bankrupt before the transaction is completed! It looks to me that the company is getting extremely close to their borrowing limit of $400 million! As of September 30th they had net debt of $303 million. But since then they have incurred another $60 million of debt to pay off the maturing debenture, which leaves them with about $37 million of available

[Kherson]

[dudsywow]

If you read any of their press releases, you would know that Canexus obtained a $60 million non-revolver that they used to pay-off the debenture on Dec 31, 2015.  This revolver is not part of the $400 million credit facility. https://canexus.mwnewsroom.com/Files/8f/8f98f2aa-7037-43c0-9ae0-975187308318.pdf Also, if you look at their Q3 results, they generated over $26 million in cash from

[Tommyo1]

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[dudsywow]

Sorry... new to this thread and didn't realize I was feeding a troll.

[Kherson]

You really mean that you finally figured out how to read the AMEW report for Invesco concerning their dumping of Canexus shares... Kherson

[cobwebs]

This Kherson donkey is probably paid to post his lies, every company he pumps files for chapter 11

[Kherson]

Since Canexus has it's headquarters in Alberta, it would have to file for CCAA protection in the case of a bankruptcy. Chapter 11 is for US based companies... Kherson

[cobwebs]

superior has the obligation to buy back the debt when the deal closes.

[Kherson]

Provided Canexus doesn't go bankrupt before the deal can close... Too funny... Kherson

[timebuster]

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[1condor]

Should see the stock climb to the 1.30 level very soon and then a slow grind higher to the take out conversion level with SPB by late spring.

[wolfpack6]

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