Does anyone have any idea at what price they would buy back convertible notes??
As i understand the holders of the notes are entitled to hold as long as they want unit expiry in a few years. So, to pay them out NHC would need to pay at least the current conversion value, i would have thought.
Value of notes outstanding is $107.9 million, so conversion would mean 62.7 million shares, based on the current conversion price of $1.72. At the current market price of $5.82 / share that would mean a payout of $365 million.
Like i have said a few times before, the worst timed convertible note issue in history.
Does anyone have any idea at what price they would buy back...
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