Bonds to be traded:
"I'm hearing it's starting at $2.5 billion, five tranches, $500 million each," a source a one syndicate desk said, adding, "They gave out price talk the other day; I think they are going to have to widen it from there."
I don't know what a "tranch" is, maybe someone here trades bonds.
This is why the lack of price movement in the stock. MTC has to clear these bonds to assure the analysts that Mgmt's plan will succeed.
The demand is high for the bonds, see my earlier post for reasons, so this is very positive.
Someone mentioned option expiration as a reason for lack of price movement, I agree with that also.
We have to remember, there are ALOT of outstanding shares, this is not a small biotech stock with a small # of shares out. It takes alot of demand to fill the supply.
John |
