bnb equity for debt swap implication for bnbg, page-4

I would think it very unlikely that you would get $100 of value out of your BNBG holdings.

BNBG holders are in a very weak position. If they refuse what is offered them, it will mean either BNB goes into adminsitration or the BNBG holders are soimply cast adrift with no dividends at all until maturity, and perhaps then an uncertain future (if BNB survives at all).

For BNB to survive, BNBG are going to have to come to the party and take a loss on part of their holding. In my eyes, I reckon 50 cents of value will be offered. I would snap that up in a heartbeat.

Not exactly sure what shape that sort of offer will come in, but we will soon find out on Jan 9.