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Gold/Mining/Energy : ATPG Shareholders
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To: tmkay who wrote (111)8/28/2012 4:37:10 AM
From: RalphR  Read Replies (1) of 3620
 
I've held different levels of debt/equity in these kind of deals. Usually the rules don't count as much as the players with the power. If it's true that there is value in the common, why not hedge your bet and go up the debt ladder? If equity gets value, shouldn't the preferred get more? And shouldn't those bonds trading at 26 now get par plus interest?

I'm not knocking your strategy and given the available data, can't predict if the common will get anything. But it seems sure that if common gets something, debt gets more. Rather than fighting or name calling the debt, why not buy some to hedge your common? Debt is not bad any more than rocks are bad.
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