does anyone know what happened here? according to previous reports, many folks were on board with the early voluntary offer. and i was not really exactly sure why, since they had been trading actually slightly higher than the tender offer price amount as much as 10% premium > par.

then out of the blue, it is announced that the voluntary bond redemption is not taking place, the previous offer has expired without any notes being accepted for consent and all the tendered bonds would be returned.

these bonds can be called in october of this year.

cusip 02051PAC2
coupon 13.5%

Alon Refining Krotz Springs, Inc. Announces the Expiration of its Tender Offer and Consent Solicitation

http://finance.yahoo.com/news/alon-refining-krotz-springs-in...