Re: BTE refinancing notes, extending maturities
I hope it is going to go better than Range Resources who paid 9.25% to replace some debt between 5 and 5.75%. Now I don't know how much the replaced debt was trading for but it seems like the debt is going to go to 100 cents if people know it is certain to be redeemed. I have a cynical view that management teams are just willing to do anything to extend their employment.
BTW I am not a debt trader but if I was going to take a flyer on some of these indebted companies I would probably buy the debt rather than the stock. I think you are going to start seeing debt for equity swaps that will effectively make the common stock worthless
just my opinion