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Technology Stocks : Zenith - One and Only
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To: Robert Utne who wrote (6265)9/7/1999 9:36:00 AM
From: Astro59  Read Replies (2) of 6570
 
Zenith called a convertible bond issue just prior to it announcing it was going Chapter 11. Zenith called these bonds for redemption at par + according to the terms of the indenture agreement. However, these bonds were trading at a discount.

It was a rather small issue with a favorable interest rate. How come no one has looked into why these convertible bonds were called for redemption just prior to Zenith going Chapter 11. Were some bondholders being bailed out?
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