Engineering firm repays its debt the hard way as investors hold out

By Euan Hagger

Friday, October 21, 2011

A US engineering firm figures out how to buy back its debt from investors who don’t want to sell

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Comment by: Anonymous. Posted 12 years ago [2011-10-23 22:29:40]

Seems like financial management gone awry here, issuing a 30 year bond with a high coupon and then buying it back at a price above $150 (or having to spend $150 to buy US Treasuries to back it until maturity), 16 years into the term. Wish, I'd bought some of this in 1995 !!

Comment by: Anonymous. Posted 12 years ago [2011-10-22 20:52:33]

I've never seen such a high corporate bond price (greater than 150% of par). This is certainly the economic environment in which such prices are possible.

CLOs

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