No. of Recommendations: 1
So Frontier is a bit of a mess with a lot of debt coming due in 2024-2025 that could cause them some real problems without some restructuring.

However, they have some high yields that trade well below par that are due in 2020, 2021, 2022, etc. They have the cash flow to cover these currently.

What do you all think about the 2020 bonds? The YTM is pretty attractive, but I am admittedly fairly new to bonds.

I dipped my toe in on some 4/15/2020 8.50% at about $520. TRACE had them trading yesterday between $556-640. On my broker's site, I only see an offer at $620 and some at $700 right now on the low end. (Is there a better place to see what supply is out there?)

I think that there is a decent chance they go ahead and settle this issue in full in April in order to kick restructuring down the path until closer to 2024. But even if they do restructure or try to repackage, I think that odds are pretty good that they pay out over fifty cents on the dollar.

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