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Post# of 867324
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The Man With No Name

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The Man With No Name

Re: kthomp19 post# 687155

Wednesday, 06/30/2021 11:38:26 AM

Wednesday, June 30, 2021 11:38:26 AM

Post# of 867324
The seniors definitely aren't going away....that is until either they are paid in full via a public recapitalization or, if the Enterprise Value of FNMA is less than the liquidation preference of the seniors, then there will be some type of senior to common conversion (a portion of seniors to common).

Just like a Chapter 11 reorganization.

It all comes down to Enterprise Value.
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