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Sort of a similar situation but with another issuer, 6.5's of 2023. Just today found out that it was called on April 7 - broker had problem with alerts, normally I get same-day notifications about calls - and should get a nice premium out of it come May 7. The company got about the same rate on the new issue. Probably just wanted to bump maturity by 5 years while rates are fairly decent for it although 7% is not that cheap. But that's probably pretty good if you're borderline CCC/B. I understand pricing and securing the new $400 million was a piece of cake, i.e. plenty of interest.Oh and I've held this guy for just three months so a short one also. I may or may not have found a way to use the funds elsewhere already. :)
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