Every morning for the last 30 days...somebody puts up a small lot between 13 and 14...less than 100 face on 277461bd0,,the 2013s....when that is gone,,spread is 20+%
They want the bonds between 13-14 until the UK settlement and the POR and that is that. How can they justify a settlement if the usnecured debt were to rise to 30+ ..but of course.
So we sit and wait.
The stock trading is also very curious. By now it should be sub 10c, yet here it is pinned- first at 20c then at 30 c. I would NOT rule out a common surge based on this. In a POR with such a big asset base valuations are anybody's game.
I think you are dead on and objective. Someone with some balls and $ should bid up some bonds despite the premium just to see what happens... I mean, if the bonds are a guaranteed 700% as PRO says.
There's no way that between CI and all these licenses/JV's that KODAK could claim they can "pay their bills" and establish covenants to such effect in their POR, and leave the creditors out in the cold to get their 700% over the next many years as kodak makes on time payments. Yeah. No way, right PRO? Tell us why that's not possible.