I do not think they have the money to redeem the bonds, 270 million I think, they should buy some now at current prices and then pay them off with the cash on hand. The Dec. agreement really means what to these bonds? Can the market be sooo wrong?
Can you provide the link for the $70Mio turnover...Thanks!!! Basically good news, then BK would be definitely off the table...and very good news for my senior bonds :-). My guess ist still that they will convert the unsecured March bond into new shares at a price which will lift Tariko above 50%. Just "confirming" his current de-facto control over the company.