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Strategies & Market Trends : Value Investing

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To: CusterInvestor who wrote (42614)	11/11/2011 12:29:30 PM
From: E_K_S	Read Replies (4) of 78525

World’s Biggest Salmon Farmer Chokes on Glut bloomberg.com From the article:"...Billionaire shipping tycoon John Fredriksen’s Marine Harvest ASA (MHG), the world’s biggest salmon farmer, is grappling with a supply overhang that is weighing on profit and may trigger a breach of loan covenants. Marine Harvest’s ability to honor loan conditions is being called into question after third-quarter net income declined 97 percent. The company’s 225 million euros ($310 million) of convertible bonds due 2015 trade at 82 cents on the euro, according to Bloomberg Bond Trader prices. The bond has plummeted from 123 cents at the start of the year, underperforming peers in the UBS Convertible Europe Index, which have declined an average 7.6 percent. Salmon prices are at a six-year low...". ------------------------------------------------------------- EKS

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