It’s an option for the company to pay the debt but they don’t have to.. The chance is they will not because they use money to make more money.. they will rather issue more CTs or preferred for more capital. Specially after this bankruptcy.
The maturity date is in the far future and I already discuss it before.. I believe lbhi still have an option to call or not to call.
The preferred are mostly “perpetual” … unless lbhi decides a buyback.. just like commons.
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