Lately Etrade has been sending out alerts if there is a big move in the price of a bond in your portfolio. I got one yesterday, a bond price jumped from 113 to 121. I'd sell for that price. So, I looked at trade history, last trades were at 113. Next, I requested a bid for my bonds on Etrade...best bid was 112. So, I'm stumped about where this 121 price came from. I googled the company, saw that they did a private offerring of $300 million or so, due in 2015 (same year as the bonds I'm holding). So, my best guess is that they plan to buy back my bonds in the very near future around 121 or so....If that is not the case, then I'm stumped as to where Etrade came up with the 121 quote. If anyone is curious, company is Appleton Papers, CUSIP is 038101AM3, I think (misplaced my reading glasses, sorry). I might call them or Etrade bond desk to inquire about this 121 price, if I get curious enough.
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