pmp and other providers/distributors will (imo) do deals (mergers?) to take capacity out of the system... if they dont they all suffer (in a relative sense).
And imo there will be a pmp price move up when these deals are done.
Redeeming the current bonds (with its conditions) now allows such deals to be done. It will be too late to buy pmp once deals are done. Rerate will be immediate. Such deals are imo more important to the future pmp price than the general rerate upwards do to progressive (positive) changes in pmp's internal finances.
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pmp and other providers/distributors will (imo) do deals...
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