RE: THEN DO SOMETHING ABOUT IT21 May 2020 18:37
The fly in the ointment that you have over looked is that the notes were unsecured and it was only the right down of AB's PUT option to below 0.4% that set off the small print clause that only SZ knew about ( as it was him that most likely wrote the damn thing when he worked for Parabis Bank ) this resulted in the notes turning into secure notes, it was then that the Bond holders could have wiped us out even worse so I was told at the time , $250 mill of those notes were not due until Nov , had they being unsecured then GKP could have found a partner like T5 , but JF didn't like them and got rid of Simon Murray.
If MOL had not kept on saying AB was going to be pumping at 30K blls aday ( just 3 months prior to write down from memory ) then maybe the PIs might have seen what was coming and saved the shirts off their backs. Only Lardner on advfn knew what was in the small print BTW.