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Author: ytm One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35361  
Subject: Re: ALERT: CEJV Bonds Redemption 3-1-2012 Date: 2/16/2012 7:33 AM
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Great point. I read it so quickly I may have been biased.

As of February 6th, its an offering that was proposed. The planned on using the proceeds along with some spare cash to pay off bond holders redeeming 3/1/12.

What is interesting is the price action yesterday. The notes took a dive since my initial post when I quoted them at $95ish handle. Now 10% lower than that.

I think I will probably stay away from this one now. Bond traders are the most proficient on the planet, so to just jump in here at a 14% discount with the intent of getting par, you are right, you are really rolling the dice.

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****************BREAKING NEWS**********************

Proposal TERMINATED. Downgraded from Caa3 to Ca. This explains the price action yesterday.

http://www.moodys.com/research/Moodys-downgrades-Circus-and-...
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