$Y Yellow Media - Will Thrower Notes - I agree
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=86198440
Now that Yellow Senior Bonds are rated B+, I really think we see a refinancing within 2 years. On average, B-rated bonds are yielding 6.7%, while BB rated bonds are yielding 4.2%. After the principal outstanding is reduced by $200-300m, I can see the bonds being upgraded even further. Interest expense could be cut by 30% or more, resulting in even more FCF, quicker debt repayment, and ultimately enhanced equity value. Everybody wins but especially the warrants.
http://www.reuters.com/article/2013/01/16/idUSWNB002HM20130116
Arthur Caprio mentioned you
Arthur Caprio @FamilyOfficeGur
@DoNotLose The first lien is trading at par. The subordinated debt is at 86 cents.
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