Dec. 4 at 10:30 PM
$CCOI I agree but one clarification, i said senior SECURED bond in 2032... they have 2 senior UNSECURED bonds due June 2027 for
$750MM that the company will have to deal with in the next 12months (they are callable at par in 6months, i assume by Dec'26 we will know what mgmt plans to do)
Its a gamble for sure but even if you sort of sell A LOT of the parts i think you end up with more than
$1BN left for equity holders (ofc assuming no wars, no AI crash, etc), and like i posted yesterday if it gets taken out it should be above
$30
short put vs long call on a 3x1 ratio to the upside, I expect this to be a 4x by 2028.
its interesting that this name has under 500 watchers... anyone else doing credit/equity work here? I welcome other opinions!
