Post by
singsingasong on Mar 11, 2021 9:53am
Corporate expenses
500us million for general corporate purposes? WTF? Why can't RF finance this himself? They are going to start trading this paper in 6 months.
Comment by
PistolTuco on Mar 11, 2021 9:55am
maturity looks like 2025 - no way can they start converting into equity in six months - need to see this prospectus!
Comment by
singsingasong on Mar 11, 2021 10:03am
the paper is tradeable in 6 months instead of the usual 2 years. It's going to trade at a discount to par because of the projects location in DRC. And that means a higher rate and that, in turn means, that the company is going to be forced to convert to shares. And this doesn't even take into account that bond yields are rising. Terrible timing.