Sherritt International Corp T.S

Dutch Auction to Purchase Secured Notes

[Abruzz0]

Am I the only one still struggling to put a dollar value on the SP based on the proposer purchase of notes?

Sherritt has done some amazing financial engineering moves in the past. Here is to hoping that we will see a new one.

[Stratocheif]

I wouldn't exactly call walking away from Ambatovy after sinking over a billion dollars into it financial engineering. More like financial suicide. And they've tried all kinds of things in the past out of desperation to avoid default and bankrupty....extending bond maturities while increasing interest rate and giving out free warrants to get the bondholders to go along with it. A couple of

[VerificateASAP]

This post has been removed in accordance with Community Policy

[Contrarian333]

There have been numerous opportunities to buy SCN bonds at a significant discount over the years and to put them back to the Company or sell them into the market at a huge profit.  These 10.75% PIK bonds which the bondholders negotiated in the restructuring could be picked up at 7 cents on the $1.00 at the time and can now be put back to the Company at 55 cents on the $1.00.  I can still

[Oaxacan]

So true. As a shareholder I hope the company can re-purchase copious amounts of notes at a discount. As a PIK noteholder they won't be getting mine until they offer par for them.  GLTA

[Oaxacan]

No, but you are the only one admitting it.