Twice I have bought relatively, for me, large positions in Sun Trust Bank. One lot I got when I rolled my 401K into my IRA a couple years ago, the other, larger, I bought just June 10 of this year. The first bond was to mature in 2017, the other in 2020. For the first I paid about 90c on the dollar, for the second 95c. Now Sun Trust, bless them, wishes to call in the bonds, and has made a voluntarily tender offer based on a differential from the US Treasury. For my bonds I figure a price of 104-105 cents on the dollar, plus a $30/1000 bonus for early tendering. I'm delighted. Real quick, profitable. Where's Charlie? Sometimes the market zigs in the correct direction! Best wishes, Chris Grinning from ear to ear!
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