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Credit Suisse High Yield Bond F Message Board

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  • solen.meek solen.meek Sep 21, 2010 9:58 PM Flag

    Rights have landed

    So, maybe I'm misunderstanding this. I have 1000 shares of DHY. So I got 1000 shares of rights. You have the option of getting 1 share of dhy for 3 shares of rights?

    That seems better than just getting 40 - 60 dollars for selling off the rights.

    Or am I misunderstanding?

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    • You get the right to buy one share to for each of three rights you are holding. So you can buy 333 shares of DHY but you have to pay cash for them. You will owe 92.5% of average trading price in mid october.

      • 1 Reply to umbrella_pine
      • Recieved this Morning

        "Re. stock symbol / cusip - DHY RT / 22544F111:

        The above-listed stock is part of a non-mandatory reorganization or tender offer, which currently expires on 10/15/2010.

        Where to find more information:
        For offers initiated by the company, information can often be found on the company's Web site.
        If the offer was initiated by a third party, additional information can be obtained by contacting your local branch office.
        For mini-tender offers, the US Securities and Exchange Commission has urged caution. To review an SEC educational piece entitled "Mini-Tender Offers: Tips for Investors," please go to http://www.sec.gov/investor/pubs/minitend.htm
        If you decide to participate in this offer, you will need to inform your local Scottrade branch office no later than 10 a.m. ET on the expiration date listed above, and a $25 fee will be charged to your account. These shares must then remain in your account until the reorg/tender takes place. Please note that the expiration date for such actions is often extended and terms of the offer are subject to change.


        Scottrade is not endorsing or recommending the offer, and the terms have not been reviewed to determine if accepting the offer would be in your best interest. If you do not wish to participate in this offer, notification is not required and Scottrade will take no action on your behalf."

 
DHY
2.48-0.02(-0.80%)Jul 31 4:00 PMEDT