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13 Steps to Investing Foolishly / PDS: Const. Trd. Debt


Subject:  How do you research this? Date:  11/10/2008  1:49 PM
Author:  krazytamak Number:  2 of 14

This is a really interesting pick.

Could someone explain how you research this? CEG-PA in Yahoo Finance provides little info. I searched for CEG-PA in EDGAR ticker search and no filings appeared. I then searched for Constellation Energy in EDGAR and went into some recent 10-Qs and searched for CEG-PA and got no hits. My school provides access to Capital IQ and CEG-PA doesn't yield any info in Capital IQ either.

How do you know that the $22.05 represents par of $25 with an interest rate of 8 point something percent? How do you know it's callable in 2013? What is the maturity if it doesn't get called? How do you know whether this debt is backed at the corporate level or if it's project debt? How do you know the seniority of the debt and whether it is secured or not?

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