Friday, September 11, 2009

MGM buys back debt

MGM has $782 million of debt due in 2010, and MGM is offering those debt-holders notes that mature in 2016, $1,175 for each $1,000 debt.

In today's WSJ, they had this to say:

In May, it said it would pay back $825.6 million in debt under its senior credit facility after a stock and bond offering. Those offerings led the company to remove a bankruptcy concern statement from a filing in June, saying there is no longer "substantial doubt" about its ability to remain operational.

Amazing that investors only appreciate what these offerings do to the equity holder, but only after the stock starts moving higher!


Anonymous said...

you called it...Hit 12.60 today...under 12 now but still...don't know why the market is heading down but hopefully this gets to 22 soon....

also...GCI has been doing better since optionmoster touted those puts.

i got in at $7.96...but it was luck b/c my trade went through at 4:02pm

Palmoni said...

Just huge huge volume on MGM today. 82 million shares already!

I think the bulls just want to get an early start on the weekend. I was trying to, but things came up.

But it takes a while before "they" let stocks breathe. Look at how long MGM based down here, before they let it run.

GCI is the same. They just try and wear you out on the names.

The short base on this market still is way too high. So you get days where people actually want to cash out--because they still don't see the turn in the economy that Wall Street does.

So we get these consolidating intra-day corrections.

That's all I see from this perch way away from Wall Street!

Anonymous said...

Thanks P...holding MGM and GCI...hopefully the 10k- 15k lost earlier this year will fall back down like your post.

Have a great weekend. Please continue to keep us updated with MGM and GCI....

Unknown said...

Syrian Foreign Ministry said Air Jordan 11 Gamma Blue in a statement on the 27th, the Russian government agreed under arrangements to start uggs outlet a dialogue christian louboutin with the Syrian opposition in Moscow, has been looking forward to continuing the dialogue to help resolve the crisis in Syria for nearly Cheap Louis Vuitton Handbags four years.The official Syrian news agency quoted Foreign cheap jordans Ministry statement said the government and the opposition that the ugg pas cher dialogue ugg soldes is discount nike jordans only "preliminary dialogue" aimed at laying the Christian Louboutin Daffodile groundwork for the convening of a "no interference by external forces," cheap nike jordan shoes Syrian dialogue sessions. Government welcomes any "Maintenance Syrian unity, Christian Louboutin Bois Dore independence ugg australia and territorial integrity and cheap christian louboutin sovereignty of the people" to carry dialogue.Russian Foreign Ministry spokesman Discount Louis Vuitton Lukashevich, said on the 25th, ready to Discount LV Handbags create opportunities for the Syrian ugg boots government and opposition representatives meet in Moscow early next year, the discount christian louboutin "informal" christian louboutin remise 50% talks.Syria, Iran, and ugg Russia officials frequently wholesale jordan shoes visits the recent release of the christian louboutin shoes signal display might be the part of the uggs on sale Syrian opposition Syrian negotiations under the Russian initiative to seek possible Bags Louis Vuitton through political means to Cheap LV Handbags resolve the crisis in Syria.