CNP 0.00% 4.0¢ cnpr group

diluted or not, page-6

  1. 3,337 Posts.
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    I quote

    "At Centro’s election
    Centro may redeem all of the Hybrid Securities in cash at any time with 30 days
    notice, subject to the election of any of the Lenders to retain the Hybrid Securities.
    Centro could only exercise this right once it has repaid the term loans."

    or if you are talking about conversion not redemtion then

    "If 75% of the Hybrid Securityholders (by exposure) elect to convert their Hybrid
    Securities into stapled securities, then all holders may be obliged to convert their
    Hybrid Securities into stapled securities (i.e., a drag-along right)."
 
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