I read the news carefully about Walter Energy Prices $200 Million Offering of Senior Secured Notes and $350 Million Offering of Senior Secured Second Lien PIK Toggle Notes
I thought they did it in 2012 for nearly $1B and that would not expire any time soon. Why they wanted to do again in 2014 (believe this time it is secured to 2019)? I don't understand the strategy of this company.
Say last year they loss 5.7s/sh. The stock sank from 28s to 7.5s. They only has 63M shares. I think it is undervalue.
But I think MMs is not done yet. So, I say we collect small lots, but not too agressive yet.
i think the previous offering was canceled because the interest was too high. thats what i think i remember, there should be a pr on it. insiders have bought 60's all the way down to 14's. they are gambling on a turn around before they go bk. obama could ruin the party keeping the usa down. keystone pipeline example, is dead.