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https://boards.fool.com/reynolds-group-gt-pactiv-gtgt-tenneco-pack-29487024.aspx
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| Subject: Reynolds Group > PACTIV >> Tenneco Pack | Date: 8/18/2011 11:53 AM | |
| Author: ytm | Number: 33203 of 36887 | |
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I think this is very unique. Any Tenneco bond holders here?? These bonds were investment grade quality if memory serves correctly. Than Pactiv took over & the credit rating dropped & then Reynolds Group took out Pactiv & credit rating drops yet again. Today the 2025's 7.95% coupon can be bought in upper $79 handle & if you are selling, will get mid/lower $70's. The 2027's 8.375% coupon can be bought at $80 handle. THere is also a 2017 float with a whopping 8.125% coupon selling @ $94 handle. I am a big fan of this product space. Wondering if anyone out here is accumulating and/or also watching these particular bonds. The 2017's look appealing here. |
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