Concordia Healthcare Corp. T.CXR.R

secured interest received - Tx

[rad10]

tick tock....

[Iattice]

The vultures are happy!   Boy oh boy these guys are stubborn.  

[TraderBen]

WHat guys? Noteholders? or Management? If company paid interest coupon, doesn't that blow the restructuring theory out the window? Small trading position  (I know, I know, its garbage and I did't bet the farm).

[rad10]

LOL - I am stubborn for holding the secured note.   

[Iattice]

I wasn't sure if they would skip the Oct 1 coupon but that leaves the Oct 15 payment on the unsecureds. Rad, although the secureds are impaired, I do think that part of it may be reinstated at the expense of the unsecureds which are already priced for default. There is a recent trend of handing out generous % of equity at the expense of the unsecured bonds and cutting them off from post-org

[rad10]

Hi lattice - great to hear from you.  I hope you are right.  Concordia is not going to catch any breaks from the banks or the secured noteholders.  The secured prospectus looks fairly iron clad as the bond was issued under duress.  Why would secured holders negotiate?  Total secured debt is 350 million plus the line of credit............................... Total debt is 3

[PROtrading]

And a wicked retail market guy to book!  I can't even figure out how to buy the goddam secure notes.  Rad10 makes me feel stupid until I read the garbage like idiots MrHulot say, then I feel like a brainiac! LOL