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4,826 Posts.
1242
21/03/16
16:41
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@plotenic,
Its even worse - noteholders take on equity risk, but don't even receive equity upside.
Equity participate in upside above US$3oM, noteholders only participate in upside of US$165M.
The offer to them is a mockery of the risk return fundamentals on which investing is based....
No wonder management are having such a hard time negotiating a sale...
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