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Strategies & Market Trends : Value Investing

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Jurgis Bekepuris

To: E_K_S who wrote (54589)	12/17/2014 1:13:25 PM
From: E_K_S	1 Recommendation Read Replies (1) of 78644

Distressed Senior Bond Debt - My value Buy Started a position today in the SFY 6/2017 7.125% bonds. I was able to buy my position at $0.56/100 (a 44% discount to PAR) w/ a yield-to-maturity of 35%. goo.gl I sold 60% of my high priced SFY shares to book a loss (may buy those back in 31 days) and continue to hold my remaining common shares w/ an avg price of $5.20/share. I structured the debt holding & common share position to be a 1.5% portfolio position. Therefore, the senior debt is 60% of that amount and the common shares is 40%. That appears to be a good blend of common shares/debt that provides a good risk/reward. EKS

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