What was the rate when MIN originally financed the bonds with a stronger balance sheet and stronger commodity prices?
Min will be lucky to get a 1% saving by showing improved cashflows from 1 quarter to the next over the next 6 months, especially with the current bonds trading back near par.
Assume its a 1% saving, would you run the risk of credit markets clsoing for a 1% difference in rate? No corporate finance manager worth their salt would run that risk.
MIN Price at posting:
$26.70 Sentiment: None Disclosure: Held
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