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Linn Co, LLC Message Board

thomasturner999 1 post  |  Last Activity: Aug 13, 2014 4:01 PM Member since: Jul 10, 2013
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    Roughly 90% of XCO's Price Movement

    by tradertrend Aug 12, 2014 10:33 AM
    thomasturner999 thomasturner999 Aug 13, 2014 4:01 PM Flag

    You are incorrect. The bonds are not collateralized by the properties. They are unsecured. The bank debt has a first lien on the properties. They get made whole first (which should be no problem). THEN (ignoring second lien debt, complicated JV structures, etc.) the unsecured bonds try and achieve full recovery from what's left. They are unsecured. No collateral.

LNCO
30.08+0.04(+0.13%)Sep 18 4:00 PMEDT

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