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AMERCO Message Board

  • ejazz_33609 ejazz_33609 Sep 13, 2003 10:17 PM Flag

    Bonds

    Does anyone have the latest bid - offer? Any
    comments on whether we'll receive new bonds and/or equity/cash. I'm tired of watching this stock soar while my money festers.

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    • The bonds were quoted at 90 offer Friday - I don't know if any would actually come out at that price. Would think the Co's BK plan, which should be filed with the court within a few days, would detail their proposal to satisfy the bonds. Whether they pay cash, new securities or a combo, the BK court's job is to ensure that bondholders get full value in interest and principal before the shareholders get a nickel.

      By the same token, while I haven't been able to get a definitive answer on whether preferred dividends accrue while the Co is in Chapt 11, I don't see how the preffereds can legitimately get "aced out" of some dividends while the common shareholders escape unscathed.

      • 1 Reply to investguy2000
      • "while I haven't been able to get a definitive answer on whether preferred dividends accrue while the Co is in Chapt 11"

        It should be indicated when management files it's reorganization plan in a few weeks. What I don't know is whether not accruing during BK implys "impairment", I would assume yes but I don't know since the contract is void at this point.

    • We did tell you so.

 
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