Still no insider buying-I can understand before 10K and cash flow testing made public. Now that information is public and therefore should open up black out period. Maybe something else big happening behind the scenes to extend the blackout period.
I would agree possibly something else going on-they should be past the earnings blackout period. There might also be something disclosed in the 10-K that prevents insiders from buying. Looks like the 10-K was filed on March 2nd last year.
There is a make whole call on that bond issue. This means that if you call the bonds early you basically have to make the bondholders "whole" and pay a premium to par such that they would be reimbursed for the 8.625% lost for the time period of early redemption. The bonds were trading on December 4 at about 104 because of this above market yield.
Higher interest rates should result in two opposing forces. Higher interest income on NEW money to invest offset by lower valuations on the existing fixed income portfolio. It seems to me that fixed income pricing has already factored in the first rate hike...maybe even a second one.