3020 days ago
Before Christmas shares in Avanti Communications (AVN) traded at c200p. This morning they touched 100p although they now trade at 117p. What on earth is going on? The only news from Avanti's CEO, the uber-Welsh king of the bombasts David Williams is that he will be presenting interims on 4 February. However it is not just the shares that are tanking, so too are its bonds, they are now officially uber junk and as such five massive questions need to be answered by the company with the numbers. For what it is worth my target price remains - as per Gold & Bears see HERE - 0p.
3671 days ago
It looks as if Gulf Keystone (GKP) has got its $250 million rescue bonds offering away – but what does that mean for the equity? Hmmmmm.
Gulf had said it would not issue equity as part of this offering. Times change. There are 40 million warrants at just 102p going as part of the deal. It had to sweeten the offering and break its word just to get this away. And the yield? 13%. FFS that is junk bond territory. It is almost in credit card range. Whatever Gulf says about market conditions, blah, de blah de blah, it has just issued junk bonds.
