|
|
|
|
||
Re: Marathon Oil Commences Tender Offer For Up To $500 Million of 2.8% Senior Notes Due 2022I think it is very good news and the type of news that the market wants to hear. Too many companies out there with too much debt outstanding. MRO buying back their debt in the open market before it comes due is unexpected good news.. I was surprised to discover that the bonds are trading at 104, a premium to par, and a YTM of 0.8% and the price has recovered nicely since the March lows. Monday, Wells Fargo raised their price target on MRO to $9.00. I think the worst is behind us. |
return to message board, top of board |