SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Value Investing
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
Recommended by:
LukasSavickas
To: Jurgis Bekepuris who wrote (56569)3/28/2016 2:09:28 AM
From: Jurgis Bekepuris1 Recommendation  Read Replies (1) of 79150
 
OT (not a value investment, the following posted for fun/info of how BKs go, don't invest unless you understand BK, etc.)

So, I was right when I said that SFY common was better investment at the BK price than the senior notes.

Senior notes just got 75% diluted by DIP financing. Common was not diluted and is still getting 4% new equity. So there... Interesting. I did not expect that common will get 4%, I did not expect it won't be diluted.

Might not be the final version of restructuring, but it seems close to final.

There might be more value in SFYWQ than in those notes... Common pretty much did not drop since BK and it's still trading. Notes dropped from 10% par to 3% par and not trading. With 75% note dilution, notes should be now below 2.5% par to be equivalent to common. That's still assuming common gets 4% new equity.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News