Sherritt International Corp T.S

Bond quotes

[FrozenInOntario]

Anybody have access to bond quotes ?

Found it interesting that they could not buy back more junior 2029.   I would assume that it is quoting higher than the price offered for their early redemption.   Paying the interest in 2029 instead of cash was a pretty good move when they could buy them back at .50 on the dollar afterward.   Now, they might have to begin paying real cash on those.

Thanks

[VerificateASAP]

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[Stratocheif]

Last traded price on the junior notes was 54.4. And they won't be paying cash interest. That's not in the prospectus. So why would they if they don't have to. They didn't buy back much of those because they don't care...they don't have to pay any interest on them. I'm sure sometime before 2029, they will "offer the holders a 50% haircut" just like they did to

[VerificateASAP]

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[FrozenInOntario]

Thanks for this.  Sherritt offered 55 for the last tender offer. Not too sure when that trade took place at a lower price. Still find it interesting that the 2026 were bought back close to par at 90  and that almost no juniors were tendered.  This would hint that the price offered by Sherritt was too low.   It would imply that the bond market believes that cash flow from

[Oaxacan]

Buy Strato's 2029 notes that he hates so much.

[FrozenInOntario]

Good Idea.  Strato, interested in a trade, I might be buying if the price is right.