I followed your suggestion and liked the comments--thanks. FYI, I have found BDC Buzz to offer the best advice on BDC's Subscribers get his analysis and recommendations at least a day before they are posted free elsewhere. TCPC and MAIN are among his top rated.
NYSE actually did what is left of ANR a huge favor. A reverse stock split (to remain listed) would have destroyed what little common stock equity is left.. Just checked today's trading on 3.25 bonds maturing 8/1. I was surprised to see price holding around .20. Some investors have not thrown in the towel.
The 2 year chart shows pps just touching the long term support line. I am more concerned about potential exposure to Greece.
I hold ANR 9.75 Apr 18 Bonds. I bought at .40 and again at .15. Needless to say I am deeply underwater. FWIW: For those that missed it, ANR has bought back around $500M of their bond debt (all maturities). Check initial issue amounts compared to outstanding. I checked ANR, ACI, BTU and CLD. Appears ANR is only company buying back debt (I could be wrong, so do your own due diligence). I suspect mgt did not get the result they wanted, i.e., shore up confidence in company and common. Too bad they pulled the trigger when they did as I cannot imaging bonds selling for less than today, unless BK is imminent. Check out ANR web page investor link. Shows 2015 Debt/EBITDA 2.51, down from 2.90 2014 Q1 (neither number good). Also shows book value 13.76. Like another poster said, I can't wait to find out what I don't know.
Did not dip below 50 DMA and MACD now turning positive. Never came close to 200 DMA. Money flow last 2 months positive.
I doubled down on my 2018s today and got a fill at 15 cents from Vanguard. I will wait minimum 35 days to avoid wash rule and sell half my position locking in tax loss (FIFO) on my original position. ANR supposedly has 1 Billion in cash. Does anyone know if there is any reason they can not buy back their 2018 bond debt at the current market price of around 15 cents per dollar?
All bagholders should put in a Good Till Cancelled sell order for their shares limit $10 or higher. My understanding is this would prevent short sellers from trading them. I do not own the shares or I would do this. I am long the 9.72 bond due 4/18 currently selling for around 15 cents on the dollar.
I own the 9.75 maturing 2018. Original offering was 500M, which has been recently paid down to 392M. This bond is trading around .24. ANR is buying down debt and can cover interest payments for at least 2 more years. I think both the shares and bonds are hugely oversold; however, the shorts are driving the train at full speed and no one, including myself, wants to get in front of it with buy orders. I fear it will get worse with a reverse split. This could turn out to be one of the worse or best investments I have made. I will hold and collect my 9.75% until maturity or BK.
I own ANR bonds. I would rather see ANR move to another exchange than do a reverse split. Shorts will climb all over a reverse split and shareholder value will go down even faster.
Almost all of the top 20 mutual fund and institutions reporting on their 1st Qtr CBI holdings have increased their positions.
$LL has no debt that I can find, i.e., bonds or preferred. Debt/Equity ratio is 0.1. I took an initial position today based on positive Barron's May 7th article by Ben Levison addressing China flooring potential liability.