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Re: bradford86 post# 3285

Monday, 08/05/2013 12:29:52 AM

Monday, August 05, 2013 12:29:52 AM

Post# of 3470
I've got bloomberg quotes for the debt from May 3rd, but I can't see anything before that. From 5/3 to 6/30, the Supermedia bonds traded between 75 and 86, but spent most of the time around 80, where they are currently trading. The terms of the bond are LIBOR +860bps, with a 300 bps LIBOR floor. So at 80, the current yield is about 14.5%. Very interesting investment in it's own right.

Some of the FCF for the quarter must have come from A/R collection, it looks too high otherwise.

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