“If the company can get a refinance WITHOUT D2E swap, this would be an amazing outcome in the current environment.”
Without D2E.
Sarc, no-one has the answers. Favourability is a matter of perspective and a question of degrees.
A total refinance is the most favourable outcome. Most favourable but unlikely. A D2E is unfavourable. But it's more favourable that the value of your investment going to zero. See, it's about degrees.
As an aside, if you are unfamiliar with game theory I suggest you Google the $10 bargaining game to which swap referred. You should be able to find some interesting material if you Google the term "Ultimatum Bargaining". I also suggest reading material on the "Prisoner's Dilemma" as I recommended in a previous post.
CNP Price at posting:
4.3¢ Sentiment: None Disclosure: Held
