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Diamond Foods, Inc. (DMND) Message Board

  • cleto487 cleto487 Mar 1, 2013 11:08 PM Flag

    it is oaktree bit

    but now both Diamond and oaktree are on same page and want stock higher.. Other than revenues and eanings which should be ok in next qtr MORE importantly is the buyback of that 12% debt held by oaktre..Even oaktree must be helping DMND find anew way to finance this debt as tey own 17% of company.. Now the company must buy this debt back prior to May at 101% of value otherwise next year it will be up to 111% and nobody can afford that.. Look for an announcement or hint in the report..That will give a push to $ 20 easily ...

    Sentiment: Buy

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    • and what is interesting is why now the disclosure? they must have owned these warranst a while back when DMND failed in its commitments a while back..But is disclosure because they now exercised the warrants? Why exercise now if that is the case? restructuring taking place etc.. Im only speculating..

      • 1 Reply to cleto487
      • The warrants have been disclosed and public since the Oaktree investment back in May 2012. They warrants are for 4.4M shares (what would be 16% of DMND post exercise) that are fully exercisable at $10/sh in May 2013. Nothing new, and seperate from the $225 in senior notes from Oaktree with maturity in 2020 - they do not have to call early and pay the premium - that is the company's choice (tradeoff of paying 12% PIK coupon option or early call premium). They don't have the cash to pay off anyway, so not really a discussion point.

 
DMND
28.61-0.10(-0.35%)Sep 30 4:00 PMEDT

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