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.
Non-Tech : Boston Market (BOSTQ)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Dana Johnson who wrote (1402)7/22/1998 1:28:00 PM
From: Fred McCutcheon  Read Replies (1) of 1567
 
The bonds are all trading at about the same % of par, taking the LYONS at a par of 30.80.

However, the LYONS differ from the two other series in that the holders may put the bonds to BOST @ 30.80 in June, 2000. Even if BOST has committed "an event of default", such as Chapter 11, BOST is required to provide the put price in shares priced at the then current market value. The other series have no such put option and, IMHO, should trade at a signifigantly lower % of par.

Maybe the best position in BOST is to be long LYONS against a short position in the other bonds on the basis of equal par values.

Any thoughts?

Fred McCutcheon
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News