IF....GKP had money...they could but the bonds on the market, just like any other traded security.....but we don't have spare money. The bonds have to be redeemed next year at full price. Clearly the market is not expecting that to happen...hence the low trade price. If GKP could muster a loan to buy these bonds in the open market...my bet would be that the market in the bonds would quickly latch on to that and the bonds would reflect that....in the price been marked up....
The bond price is currently reflecting a major loss for the holders and nobody wants to buy them.....
Would go along way in solving this crisis. Why doesn't mol help out and buy 25% more of shaikan. There's numerous ways to solve this. It's not all about frigging bondholders. We are still in a closed period so someone is interested. There's billions not millions of oil....
Must be so much bargaining going on behind the scenes at this crucial time. Getting out @ 5p salvages something of course and it tempts me but so far underwater i am inclined to see it through , stubborn and probably foolish but that is the nature of many, not just me. I am sure JF is trying his best but a comment from him would be welcome as he appears to have his head below the ramparts at the moment.
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