RE: Bottom reached22 Jul 2022 15:53
No you cant. They bought with the following add on. It is a fantastic deal...but not for ordinary shareholders. A good part of the company has in effect been given away. Investors can say what they like but the possible return is not much less
13.0% interest per annum in cash. Interest will accrue and increase by 0.75% each 3-months until COPL gives notice to the Bondholders that it shall henceforth pay all interest coupons in cash ("Cash Payment Notice"). Interest will decrease by 2.0% per annum, and no further quarterly increases will apply from such time as the Company provides a notice that it will henceforth pay interest and make whole payments in cash.
· Issue Price: 78% of Principal Amount.
· Maturity Redemption Amount: 119% of the Principal Amount and all accrued but unpaid interest.
· Bondholder Early Redemption: 119% of the Principal Amount, all accrued but unpaid interest and the relevant make whole upon certain events including fundamental change of control or event of default.
· Issuer Early Redemption: 114% of the Principal Amount