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Replies to post #9224 on The Rising Influence of Rising Affluence

Replies to #9224 on The Rising Influence of Rising Affluence

DewDiligence

12/04/14 9:35 AM

#9225 RE: Democritus_of_Abdera #9224

CLF (-7%)—The market clearly doesn’t like the cancelation of the bond swap, although I think it may still get done in due course.

DewDiligence

12/05/14 12:16 PM

#9234 RE: Democritus_of_Abdera #9224

CLF rebound today is mildly encouraging. As noted in my post yesterday (#msg-108751030), I think a bond swap may still be in the cards; however, CLF has more work to do to figure out what terms will be mutually acceptable to the company and the new-bond buyers.

Alternatively, CLF could simply tender for a portion of the old bonds (without issuing new ones) after completing more asset divestitures.