With Nortel’s prospects – and viability – still unclear, Debtwire reports that bondholders have hired New York-based law firm Milbank Tweed, and asked to meet with Nortel executives.
For what it’s worth, Nortel’s bonds currently trade for less than 20 cents on the dollar.
hhhmmm, any idea/theories/assumptions of what they want? (of course they want their money, but more specifically)
Nortelhand
I hate to say it, but I am sure the bondholders know more than most. They are starting the process to get as much as they can for the junk they hold. I will be surprized if NT is around as a company in another year. Great job MIke Z!!!
PM_Guy
Significant asset sales or change of control can may trigger Bond convenants. They may watn to be paided out or get a piece of the cash from the sale?
StillatNT
Any idea why Nortel stocks are up nearly 25% today?
It can't be the potential $30M – $50M sale of part of MEN, can it?
joremero
I would think this as bad news… but today the stock is going way up…. anyone thinks something is up?
StillatNT
Any idea why Nortel stocks are up nearly 25% today?
It can't be the potential $30M – $50M sale of part of MEN, can it?
joremero
I would think this as bad news… but today the stock is going way up…. anyone thinks something is up?
Bondholders Get Prepared
With Nortel’s prospects – and viability – still unclear, Debtwire reports that bondholders have hired New York-based law firm Milbank Tweed, and asked to meet with Nortel executives.
For what it’s worth, Nortel’s bonds currently trade for less than 20 cents on the dollar.
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