Hey guys. This stock is being manipulated by Hedge Funds. Eventually they'll get burned real bad and be out of our hair. Does anyone know how much cash flow was freed up by the one time payment of $300,973,343 on its senior notes due in 2017. They paid a total of $14,161,343 plus the $286,812,000 principal to retire the notes. Not a bad deal at 9.875% interest, unfortunately my loan calculators won't amortize $286,812,000 at 9.875%. This information would be kindly appreciated.
I cannot answer,but suspect that the annual savings on interest will be meaningful.You are right about manipulation,by which hedge funds move all the refiners,apparently making a lot of trading profit. i find that trading while using 5SMA,and changes in XOI give good signals,on all 7 refiners I follow. I find that pullbacks in TSO are very profitable buys.
I suspect this buyback may cause HFC to be stingier with divvies. Hope I am wrong.
You are one of the few intelligent people on this board. HFC is an unrecognized power house. Just look at the key statistics. Eventually this stock is going to break out otherwise the laws of gravity don't hold up either. What many people don't realize is that not only does HFC get their crude cheaper but they also have pricing power. It takes money to transport finished product from the northeast and the gulfcoast to the midwest. HFC hasn't been gouging the customers because of competition from TSO but in a pinch all the midwest refiners will raise their prices to make a profit. Does the 5SMA give a good indication of where things are going as opposed to the 50SMA?