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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments
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To: Tunica Albuginea who wrote (14009)8/28/2000 11:24:57 PM
From: Mr. Pink  Read Replies (3) of 18998
 
Tunica, do you feel lucky?

What do you think the banks will extract from the equity holders hide to roll over the loans?

Let's see, paripasu debt trades at 60 cents on the dollar or over 22%. That means the banks should want about $1.0 billion of additional consideration to make themselves "whole" on their loans. If I were in the bank group, I might ask for 125mm shares of stock at current levels and if not? Throw the bitch into bankruptcy.

I certainly hope you feel lucky, because the banks are coming after your ass.

MP
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