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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (77335)3/8/2001 5:43:51 PM
From: baystock  Read Replies (1) of 436258
 
The 1999 annual report for TVX shows a convertible debt of $220 million due March 2002. If the notes are paid using shares, the formula is 95% of the average share price for the 20 days prior to the due date of these notes.

I guess they can use up all their cash balance and borrow $100 million from the Normandy line of credit to pay this off, but this will leave them too heavily in debt to do their Greek projects. They will need a gold bull market to bail them out of this one. What are your thoughts on this debt ?
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