No. of Recommendations: 1
More twists and turns.

Announced today (10/8), a $100M bond offering.

Somewhat odd. First a share offering, then shortly afterwards a bond offering. Just a
guess, but I suspect this bond offering is for a "debt punt"- borrow here, and move the
debt down the road. Are there other issues in the background? The containership newbuilds
have been financed. There was enough cash to cover the two smaller drybulk newbuilds.
So why these back-to-back moves so suddenly. I mean I'm still guessing on the reason for
the earlier deal. With this uncertainty, the SFL trim is looking better and better.
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