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Author: globalist2013 Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35380  
Subject: Accepted AES’s Tender Date: 5/3/2013 12:03 PM
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AES is tendering for their bonds, and I accepted the offer. http://cxa.gtm.idmanagedsolutions.com/finra/BondCenter/BondD... I bought 12/06/10 at 111.365 for a projected YTM of 7.2%. I’ll be getting out at an achieved YTM (coupons not re-invested) of 12.2%, or a good-enough trade.

Yeah, accepting the tender dumps more cash in my lap that I can’t put back to work. But the present insanity of rising prices (stocks, bonds, whatever) cannot continue indefinitely. The Fed’s effort to inflate the economy are going to fail, and having a stash of cash to work with will be handy.

Charlie
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AES CORPORATION IS OFFERING TO PURCHASE FOR CASH UP TO $100,000,000 PRINCIPAL AMOUNT OF ITS 9.75 % SENIOR NOTES DUE 2016. THE APPLICABLE 'TOTAL CONSIDERATION' PAYABLE FOR EACH $1,000 PRINCIPAL AMOUNT OF NOTES TENDERED AND ACCEPTED FOR PURCHASE WILL BE $1,222.50 PLUS ACCRUED AND UNPAID INTEREST UP TO, BUT NOT INCLUDING, THE APPLICABLE SETTLEMENT DATE. THIS OFFER IS SUBJECT TO PRORATION. IN CONJUNCTION WITH THE TENDER OFFER THE COMPANY IS SOLICITING CONSENTS TO AMEND THE INDENTURE OF THE NOTES…
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