Advfn interesting23 Sep 2016 09:25
paulypilot - 22 Sep 2016 - 23:56 - 6784 of 6785 - 0
What's interesting here, and this is very speculative, is that JPR has looked insolvent for years. However, its debt is in the form of bonds, which are now trading at a deep discount to par.
So, if the company is able to raise some cash from asset disposals, and buy back bonds at a deep discount, then suddenly it might actually have some value.
They also seem to have done something interesting with the pension deficit.
Totally speculative. Look at the EBITDA. Although also, on the downside, look at the horrible declines in circulation & ad revs. So it looks finely balanced to me.
I'm long, but in the intelligent punts part of my portfolio, not the main bit.
Let's see what happens.
Regards, Paul.