yoga, I know nothing about bonds. Are you able to tell me/translate how Savient bonds relate to SVNT shares of stock? They say if Savient were to go under that the "Creditors" get their money back first, leaving nothing for the shareholders. So, I'm interested in anything about that, anything that helps explain the relationship between the creditors/bond holders and the stock holders. Seems sort of a ripoff for investors... kg
Bonds are pricing a default within less than a year, without liquidity and no way out (that was Tang's argument last year). The board is aware of this and the only hope is to increase their net income by 5 mill. quarter over quarter.