AMC

I tried hard to read the document in the link but I have to confess it is all legalese to me... Do you have any colour on what they are offering?

There is still more of this bond available on the platform at 31p on the £.

Is this a really good deal given that it is about to turn into 50p of the new bond, or is it highly likely we will be back here again in a couple of years even given this debt restructuring?

AMC just jumped from 32p to 37p on WA... not a huge absolute jump but in %age terms it's nearly 20% of what I put into it a few weeks ago!

Hi

I'm on the other side of spectra.

Unfortunately I bought 5.75% Senior Subordinated Notes last year for 92p., so far I have received 2 coupons.

I see the following scenarios:
1) I sell now and  lose 1-0.34/0.92=63% of principal value
2) I accept offer,  I lose 50% of principal, if they survive then interest could balance remaining 50%, ie I would have almost 0 total profit ie -0.2% pa
3) I accept offer, I lose 50% of principal, if they bankrupt, my position in repayment line should be slightly better than with 5.75% Senior Subordinated Notes, but no idea how much I can gain.
4) I reject offer and hope they somehow survive my profit is 7% p.a  

I assume when majority of bond owners accepts offer  while I don't then even my bonds will be exchanged, correct?
So do you plan to accept exchange offer?

Vitek

What happened to treetophugger?! He has disappeared from the forum!

Yes, he said he was in a wind down and liquidate "as and when" and perhaps even said has been for some time.

Leaves a lot of holes in the threads. Regrettably not the first to try and remove their footprint.