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CNO Financial Group, Inc. Message Board

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  • rdctwo2 rdctwo2 Aug 9, 2009 10:40 AM Flag

    What're we looking at for next week?

     

    No more potential bad news to report until September. The next major news event will be next month's jobs report. We're between earnings reports. I think we cross $5 by late August. Looking for Dow 10,000 later this month.

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    • Hope you are right, I would then look for a restructuring of the 2010 debt as a catalyst that could bring this thing towards $7. FWIW, I really don´t see how they are going to do it right without a minor dilution, say paying off half the debt and rolling over $150M or so into a new note, say a 5.7% coupon and a $7 or $10 to $12 conversion rate.

      Removing a big cloud for a mere 15% or 20% dilution would be worth it to me as a long, but it they avoid it and play a mere rollover I will just sell into rally, treat it as a trading stock and take my profits. To me a restruturing with a reduction in debt would show maturity, and it would reduce interest payments while strengthening this company´s financial position signifitcantly. No worries, they have time, credit markets are improving. But eventually they need to send a very strong signal to the ratings agencies and others that this one is manageing its debt proactively, not just rolling it over, and the 2013 debtholders might be better off with it and maybe they would lighten up alittle in their limitations.

 
CNO
17.15-0.09(-0.52%)Jul 25 4:03 PMEDT

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