Has Helix stated its intentions relative to the convertible bond CUSIP 127914AB5 that matures 2025? They have a continuous call option at $100 starting 12/20/2012, and the bond trades like they are going to exercise that option.
The money here isn't very expensive. Why would they close the position?
I was not talking about the put feature. Clearly if they trade below par someone will exercise the put feature, which is why they won't trade below par.
I am interested in the perpetual call feature, because that might make this a dead-money investment. The company could simply call it out at any time when it trades to a price where convertibility gives the holder a profit.
I'm looking at the other convertible at this point and I'm passing on the CUSIP 127914AB5.