Realistic if bond holders convert LNC reduces debt by $150 m why would bond holders convert at 1.36 when they are already calling the shots? LNC has had to redeem $50 m bonds already! You can't tell me LNC paid this down willingly? Look at the re worked deal who does it favour ? Lnc or the bond holders? Ask yourself why is PB so generous?
LNC Price at posting:
99.5¢ Sentiment: Buy Disclosure: Held
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