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Author: folgore Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35387  
Subject: Re: River Rock Bonds Date: 11/22/2011 9:18 AM
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Thanks for keeping tabs on this Ron!

If I read your post right, though the new maturity date is Nov 2018, the intent of River Rock is to try to retire some of that debt early. Does that mean the bonds are callable from the moment they're issued? If they're doing well revenue-wise even during a recession, it certainly makes sense for them to rid themselves of debt they have to pay 9% on. And as the country comes out of recession, their profitability should improve allowing them to start paying off the bonds. The question though, is who will be paid off first: big bondholders or people like us? Given their separate arrangements for bondholders of $50,000 and up, I assume they'll be taken care of early while the rest of us get it back in 2018.

Definitely not ideal, but if everything stays within the parameters of expectation as laid out by RR, definitely better than default!!!
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