who has the better deal

Who has the better deal? CER or CNP.
Maybe I'm missing something but I think CER has a great refinance deal and CNP has a lousy one.

Cer is refinanced for two years with no dilution and few strings attached. They will not pay a dividend until a small proportion of their loan is repaid but are capable of paying early dividends. They have prospects of moving further away from CNP and that must be of benefit. That move has already started with independent board members that are not part of the board of CNP.

On the other hand the conditions imposed on CNP seem to me to be much more onerous. The dilution factor of a possible 90% seems unrealistic. The banks will be running the business and banks are not real good business managers in my experience. (None of the bank managers I have had over the years could have managed my businesses but each one thought they could.)CNP will definitely not be able to pay dividends for many years as I read the terms.

So CER, no dilution and possibly dividends in the short term versus CNP with massive dilution and little dividend prospects. No contest. In my view CER wins hands down and as soon as the deck clears with traders the SP must get ahead of CNP.

I have put my money where my mouth is and sold the last of my CNP and purchased another 60,000 CER with the proceeds. I don't agree that the SP will drop again, if it does it will not stay down and not everyone will pick the very bottom anyway. If it ever gets below my average price I will buy more anyway but I'm not holding my breath.