Yet again melua, I am talking in terms which will help abate this sell down due to the insto's/publics misconception that BEPPA will be converted in the near term due to the administration of BNB.
If they choose to use the funds to buyout BEPPA, this will remove the elephant in the room...that being the supposed conversion of BEPPA into BBI at current market prices, which will help the stock price rebound, and hence possibly allow the company to reintroduce distributions, which is the reason why most people bought into this stock.
However, you are right. There is no real need to redeem BEPPA. Infact if I were management, I would use this market disallocation to buy up BEPPA at a steep discount to the redemption rate of $1.08 I think it is? (I don't mind being corrected), and thus lower the debt payable.
BBI Price at posting:
5.3¢ Sentiment: LT Buy Disclosure: Held
