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Subject:  Re: Any updates on Edison Mission Energy bonds? Date:  10/19/2013  11:49 AM
Author:  howardgt Number:  35077 of 36670


Thanks from me too… I hadn’t seen this news.

From the RTT article linked below, my simple calculation gives $2.635B to cover $3.7B of debt which translates to 71.2 cents on the dollar (about where the bonds are now trading)

The news says that NRG will retain $1.272B of non-recourse debt, so those bonds may/should eventually workout better. I don’t know which issues are non-recourse. I hold 2 issues (7.75% & 7.00%). Does anyone know which are non-recourse?

Anyway 71 is close enough to my target of 75, so I will consider selling my small Etrade holding because they nickel and dime me on reorg charges. I will probably just let my larger FIDO position get converted since Fidelity is more reasonable about reorg fees.
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