Listening to the latest call, they IMPLIED they'll call it. They stated that it's refi is on their radar and that they'll take it out when it makes sense financially. They backed off questions as to timing, saying they'll do it when they do it. It presents a dilution problem for common and blunts earnings on a fully diluted basis, which has analysts questioning them on when they eliminate it. But CSV is also in an acquistion pattern, which begs the question as to whether or not they'll want to burn cash on its retirement. Regardless, the conversion option puts it near the money. So, there may be upside if the common has a spurt.
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