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Non-Tech : Convertible Bonds
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To: Rocky9 who started this subject7/14/2003 4:52:59 PM
From: Rocky9   of 83
 
First time for arbitrage. New bond too. RBAK.

I bought the bond today (I paid up -42.25). I found the stock to short, but did not get an up-tick late in the day. Hope to complete the short tomorrow.

The company announced a recap last week. The bond holders will own 95% of the company. There is a HUGE mis-match of valuation in the stock versus the bond. This should be easy money. But usually if it is too good to be true - I'm missing something. TWT.
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