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Well said Foxhound
Tristan would have been proud of that
ffc - only if Tristan is back from hols
Correct Cherokee and Tristan won’t be marking up the RNS with his comments even if he were at his desk with his headset on talking to his 10,000th panicked PI with the same Script
It’s not been done yet no. Obviously.
There would be an announcement.
If they were sat on news like that the price would have leapt and a squad of men in black from the FCA would have arrived.
Really ???
Come on guys. You can’t read anything into a couple of call handlers going on their holidays !!!
Tristan and his boss will have NO input in bond comms at any point. They get handed a script and told to pick up the phone.
RNS and press comms handled by lawyers and financial PR team.
Seriously do not worry about Tristan being on the beach.
No offence Tristan if you are reading this poolside
Oh how i wish this were true.
But I wont believe anything until i actually see that RNS saying the flipping bonds are sold.
Lets not forget how we all decided the Citi RNS meant certain salvation only to work out several days later that they had actually hedged their exposure....
Fingers crossed - I still feel v positive.
GK keep up the analysis the HYB market v helpful to everyone.
Oh and POTUS, if you are reading, please put your bI00dy IPHONE in a drawer until CF has done the bizzo.
I completely agree KOH - with you 100% there.
SG
Sorry *writing* - I can't right.....
KOH
That's some U-turn. Only three weekends ago you were righting to MPs left right and centre and calling the FT to do an article on the terrible state that PIs are in.
Now, I am not so sure - I think the IPA guarantee is not an impossibility - it could happen. But I don't think (as some seem to on hear) that it will be announced out of the blue in the next few days. If it happens there will be pain first because CF will need to have tried to independently issue the bonds before seriously re-engaging with the IPA.
SG
I am a company lawyer. This you can ignore. I would explain it but it's irrelevant. Not even worth bothering with.
I cant share you worries, no.
This is not a bail-out. This is not Debenhams - that was a trading business, which was failing and dying.
This is a build out infrastructure project, which will lead to 100+ years of high-volume, high-margin product in a growth sector. They are completely different - don't forget the massive and recent investment earlier this year from institutions.
Simpl - great thanks a lot
CORRECT ME IF IM WRONG
Is this as positive as everyone thinks. It says they have converted an exchangeable bond. Apart from de-leveraging balance sheet they are just swapping debt to equity at a low conversion price. This isn’t new investment. Just switching one security for another at a very good price. Can someone explain why this is so transformational?
Avocet
Thats the point - we are NOT on the brink of admin. The mood on the board is reflective of the fact that most people on here are in over their heads, not used to this and invested more than they probably ought to have done. Citi is not gambling - they understand that this represents a knock-down price for a long term holder.
of course sorry - being dense yes you are 100% right.
Fair enough guys. As I say fingers crossed you are all correct and there is something big about to drop.
Or at least they know something about September that we don't.
Anyway, who cares, its good news and the more of that the better !!!!!
:)
I am delighted of course. I am with the vast majority of people here in hoping this is indicative of something wider.
But dont forget they cant trade off insider info. Surely they dont know something.
Its a good blue chip holder to bring in - but we cant infer anything I dont think.
Wow - great spot.
Yes - definitely just a coincidence, no doubt about that whatsoever. However could not be timed better for SXX.
At last, timing is good on something.
I think its fair to say that most people on this board know more about the bond market than they did last week.
It is just as capricious and open to large swings as the general equity market. Therefore there will be plenty of expansion and retrenchment between now and end-October for the bonds to be placed.
There is NO NEWS until the bonds are placed, and they WILL BE placed in September. At that point we go back to talking about the build out of the mine - until then there is nothing to see here unless you want a quick turn on your shares. In which case I've no idea - I am in it for the long term.
Sorry what does that mean - the market is in auction?