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E*TRADE Financial Corporation Message Board

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  • potato_brane potato_brane Jun 15, 2012 11:51 AM Flag

    650 Million remaining on Springer loan?

    Take a look at this, Gringo:

    https://investor.etrade.com/debt.cfm

    Da debt is $930,230,000.00 and the premium for a payoff December 1, 1012 is 12.5%....

    making the total payoff $1,046,508,700. The hit to earnings and capital would be defeating. They could easily refin at much lower rates, though...

    BUT, maybe they could do an offer to call in the notes but GIVE warrants for the premium? ANYBUTTY comment on this?

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    • I am sure the recent mixed shelf is to deal with this debt when it becomes callable. In today's market, no need to pay 12.5% . I would imagine they would also deal with the callable 243M at 7&7/8 at this time as well. If etfc can increase earnings enough to meet its competitors, it can easily add some share dilution to take care of this problem. We have about 1/2 the share count of AMTD and 1/4 of SCHW. Maybe the uncertainty is what is keeping us down? I think everyone understands it is the best thing to do. All that interest savings will drop to the bottom line in 2013.

 
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