Mulligan
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- May 3, 2009
- Messages
- 9,343
My thinking also.... which is why I am reducing my 7.5% BB- for this...
I am keeping the SPLP-A as my largest holding.... I actually think that when it comes time for them to pay for the call in 20 that we will be able to put more in if others do not put theirs.... IOW, from what I read they are going to allow up to 525000 shares... if some people do not put theirs we can get a higher pct. of ours in that put... so, YTC (or put) is pretty high on this one... like 15%.... heck, even without the call it is around 11% YTM.... pretty good for what I consider a BB to BB- security...
Im still out of SPLP-A, but watching. I need to study and see what is up their sleeve. I love that put, but there is some screwy things in that prospectus that give me some pause until I know they dont plan on making this issue their piggy bank for acquisitions and get the float as big as their common float is. So I am still interested.