Seeking Alpha
View as an RSS Feed

Randy Durig  

View Randy Durig's Articles BY TICKER:
  • Annual Review Of Additions To Our High Yield Global Bond Portfolios
    Today, 8:27 AM APDSF, BRFS, CPNCF Comment!

    Summary

    • 22 US dollar debt instruments, with average indications of 9.64% at the time of addition.
    • 7 foreign currency debt instruments, with average indications of 8.96% at the time of addition.
    • 29 mixed currency debt instruments, with average indications of 9.48% at the time of addition.
  • Earn 10.6% Yields With Fortescue Metals Group Yankee Bonds, Maturing Aug. 2019
    Wed, Feb. 25 FSUMF 2 Comments

    Summary

    • EBITDA has increased over 400% since 2010.
    • World’s fourth largest iron ore producer.
    • Has brought production costs down by almost 30% in the past fifteen months.
  • 9% Yields In Canadian Dollars With 5N Plus Convertible Notes, Matures June 2019
    Wed, Feb. 25 FPLSF Comment!

    Summary

    • The convertibility feature of this bond adds additional possibility for increasing investor return.
    • Has an an interest coverage ratio of about 3.4x's.
    • A Canadian domiciled company which has experienced astronomical growth, and has a solid and predictable revenue stream for the next five years.
  • Big 12.25% Yields With Cobre Del Mayo Yankee Bonds, Rated B-, Matures November 2018
    Wed, Jan. 14 1 Comment

    Summary

    • Very high short-term yields, over 12%, in US dollars.
    • The third-largest copper mine by production in Mexico.
    • Decreasing mining costs and increasing EBITDA in the first half of 2014.
  • 9% Yields With TDBM's Very Short 10-Month Yankee Bonds, Matures September 2015
    Dec. 22, 2014 RIO, GS Comment!

    Summary

    • Profits have increased eight-fold since 2009.
    • With GDP growth for 2014 expected to be approximately 7%, Mongolia remains one of the fastest-growing economies in the world.
    • Mongolia's largest and oldest bank.
  • 7.75% Yield Indication On 20-Month Average Life From Hidroelectrica Piedra Del Aguila's Sinking Yankee Bonds
    Dec. 10, 2014 APDSF, APSA, TGS 3 Comments

    Summary

    • Sinking Yankee Bond has already returned 25% of principle to bondholders.
    • High 9% offers excellent cash flow.
    • Excellent profitability and a quarterly revenue growth (year over year) of 62.80%.
  • Earn Over 10% Yields In MNC Investama Yankee Bonds, Maturing In May 2018
    Nov. 26, 2014 PBHKF 2 Comments

    Summary

    • Strong year over year increases in revenues and net earnings.
    • Holds a commanding position in its primary field of media/television.
    • Good credit rating relative to the very high (over 10.2%) yield indications.
  • A 12-Month Recap Of Additions To Our High-Yield Emerging Market Bond Portfolio
    Nov. 26, 2014 APDSF, CIFHY, CMPHF 3 Comments

    Summary

    • Average Yield Indications Were Over 9.6%.
    • Average remaining maturities of these additions is less than 3 1/2 years.
    • Over 75% are denominated in US dollars (also referred to as "Yankee Bonds").
  • Power Up Your Portfolio With SandRidge Energy 9% Convertible Perpetual Preferred Stock
    Nov. 13, 2014 SD 12 Comments

    Summary

    • Estimates its overall production will be up by 12% in 2014.
    • Solid coverage of about 3 times its coupon payment.
    • Qualified payments give tax advantages compared to bond interest payments.
  • Build In 10% Yields To Your Portfolio With Cimento Tupi Yankee Bonds, Matures May 2018
    Nov. 13, 2014 3 Comments

    Summary

    • 33% growth in revenue for the first half of 2014.
    • Centralized production and distribution close to their target markets helps lower costs.
    • Recently completed an expansion of its main production plant.
  • Earn 8% Yields With These 5-Year Kuwait Energy Yankee Bonds, Maturing August 2019
    Nov. 13, 2014 6 Comments

    Summary

    • Double-digit improvements in profitability over the last five years.
    • Debt to Cash ratio is less than 3 to 1.
    • Interest rate coverage is over 5 times.
  • 14% Yields, 3½ Year Edcon Yankee Bonds, B/B3 Rated, Matures March 2018
    Nov. 13, 2014 5 Comments

    Summary

    • US dollar debt instrument that offers both extraordinarily high 14% yields and great cash flow, also has a short 3 1/2 year maturity certain date.
    • South Africa’s leading non-food retailer, it includes over 1400 stores under nine different store formats (in 3 separate divisions) throughout southern Africa.
    • In spite of its elevated risks, it introduces good diversity to income portfolios.
  • Strike 7.5% Yields In Canadian Dollars With TransGlobe Energy Convertible Notes, Maturing March 2017
    Oct. 23, 2014 TGA 1 Comment

    Summary

    • Convertibility feature allows for the possibility of ever-higher returns that the 7.5% currently indicated in the interest yields in Canadian dollars.
    • Strong production growth prospects over the next 4 years.
    • TransGlobe Energy has an exceptionally resilient interest coverage ratio, greater than 10 to 1.
  • Catch 9.6% Yields With These 2 1/2 Year Yankee Bonds From Copeinca ASA, Peru
    Sep. 14, 2014 CPNCF 8 Comments

    Summary

    • Copeinca is the second-largest fishing company in Peru, and is Peru’s largest producer of fish meal and fish oil.
    • Underlying assets included highly valued Peruvian fishing and processing plant permits.
    • These short (30-month) US dollar bonds, rated at B+ by Fitch, indicate a very high 9.6% return.
  • Grow 7.3% Yields From NitrogénműVek Yankee Bonds
    Sep. 12, 2014 APDSF, CMPHF, PTGJY 2 Comments

    Summary

    • One of the largest producers in central Europe, with annual capacity of one million tons of fertilizer.
    • Solid revenue growth and profits over the last 3 years, continues to increase production capacity.
    • Bonds are relatively short term (68 months), and are rated BB-.
  • Cool 5.85% And 7.8% Yields In R&R Ice Cream Foreign Currency Bonds, Mature 5/15/2020
    Sep. 9, 2014 3 Comments

    Summary

    • High-yield bonds in two very strong global currencies, the British pound sterling or the Australian dollar.
    • R&R Ice Cream holds a dominant ice cream manufacturer position in both the European and Australian markets.
    • Excellent year-over-year revenue and earnings growth.
  • Sinking Yankee Bonds From Autopistas Del Sol Step Up To Offer 9.5% Yields To Average Life In April 2019
    Sep. 9, 2014 APDSF Comment!

    Summary

    • Discounted bond price offers a high 9.5% yield to average life in April of 2019.
    • It's possible that the Company will accelerate the return of principal, producing an even higher return on investment.
    • About 45% of the note debt has already been returned to bondholders.
  • Eat Up 10% Yields In U.S. Dollars From Ukrainian Poultry Producer, Mironivsky HilboProduct
    Jul. 9, 2014 MHPSY 2 Comments

    Summary

    • The largest poultry producer in the Ukraine, with a market share of about 54% of industrially produced poultry.
    • EBITDA increased by 45% to US$106 million over the year-ago quarter, and EBITDA margin increased from 24% in Q1 2013 to 34% in Q1 2014.
    • Nice 8.25% coupon provides good interest income, and the discounted price lifts the yield of this short to medium term note to about 10%. Matures April of 2020.
  • Extraordinary Cash Flow Drives These China XD Plastics Yankee Bonds With 9% Yields!
    Jul. 9, 2014 CXDC 23 Comments

    Summary

    • The operating income of China XD Plastics is over 10 times greater than interest expenses.
    • Very high yields for the relatively short 4.67 year (February of 2019) maturity of these notes!.
    • The Chinese automotive modified plastics market experienced a nearly three fold increase between 2008 and 2012, and the automotive industry in China is said to be still in its infancy!.
  • Revisiting Rolta's 4-Year Yankee Bond That Offers Both High Cash Flow And Over 9.5% Yields!
    Jul. 1, 2014 RLTAY Comment!

    Summary

    • Year-over-year Revenue growth of 44.2% and quarter-over-quarter growth of 20.9%.
    • Q3 FY 2014 earnings (EBITDA) was Rs. 2.82 billion (US$47.2 million), a 28.5% year-over-year improvement.
    • Underlying stock has risen over 70% since our review in February of this year.
  • 10.5% Yields From Petróleos De Venezuela Sinking Yankee Bonds, Average Life Oct. 2016
    Jun. 27, 2014 CVX 13 Comments

    Summary

    • Very high cash flow and yields, over 10.5%, for this short-term Yankee bond.
    • State owned PDVSA is a company vital to the economy of Venezuela.
    • Sinking feature shortens the average maturity of this bond to Oct of 2016.
  • Mine 9% Returns From Lake Shore Gold's 39 Month Canadian Convertibles
    Jun. 26, 2014 LSG Comment!

    Summary

    • High 9% Average Annual Return in Canadian Dollars, with a short September 2017 Maturity!
    • Convertible feature of this note lowers the default risk while offering a potential for higher returns if the stock price appreciates sufficiently.
    • The company’s 2013 sales of 135,550 ounces were up 62% from 2012!
  • Short-Term Fixed Income Portfolio Yields Over 9.8%? This 1-Year Review Screams Yes
    Jun. 12, 2014 BND, CEMB, CWXZF 2 Comments

    Summary

    • High-yield averages for additions to the combined FX2 portfolio are over 9.8%.
    • The average remaining maturity of these issues is about 3 years, 4 months.
    • The average yield for additions to the U.S. dollar only portfolio (FX1) were about 10.25%.
  • Tasty 12.25% Yields For 4 Years From Brasil Foods, Baa3 Rated, Denominated In BRL
    Jun. 9, 2014 BRFS 4 Comments

    Summary

    • Investment Grade Bonds, Rated Baa3 by Moody's.
    • Under 4 years to maturity, these nicely discounted bonds provide excellent income cash flow.
    • Issuer is one of the largest food conglomerates in the world.
  • Harvest 8% Yields With Very Short 2-Year Yankee Bonds From Ceagro Agricola
    Jun. 9, 2014 MTU 4 Comments

    Summary

    • Very short, 23-month bonds with both high cash flow and high yield.
    • Issuer is controlled by the multi-billion dollar mega-conglomerate, Mitsubishi UFJ Financial Group.
    • A prominent operator in the vital agricultural industry of Brazil.
  • Score 8.67% Yields With Eastcomtrans Yankee Bonds, B3/B Rated, Matures April 2018
    May. 29, 2014 ARII, GBX, LUKOY 6 Comments

    Summary

    • Discounted bond price offers a high 8.67% yield to maturity in just under 4 years.
    • The company operates the biggest fleet of oil fuel tankers in Kazakhstan.
    • Record a 29.9% increase in gross profit, and a 35.9% increase in profit after taxes.
  • Score 8% Yields With CanWel Building Materials 3 Year Loonie Bonds
    May. 20, 2014 CWXZF 3 Comments

    Summary

    • High 8% yields in very short (3 year) maturity bonds, denominated in Canadian dollars.
    • One of Canada's largest distributor's of building materials, and Canada's exclusive distributor for Boise Cascade Engineered Wood Products.
    • Convertibility feature lowers default risk and allows a possibility for additional upside to overall returns.
  • Earn 12% With These Deeply Discounted, 4-Year, MNC Investama Yankee Bonds
    Apr. 3, 2014 PBHKF 4 Comments

    Summary

    • MNC Investama is majority owner of the number 1 ranked TV company in Indonesia.
    • The company’s core media business is a “defensible market position” generating solid cash flow.
    • These short maturity (May 2018) Yankee bonds offer a high 12% averaged return in US dollars.
  • Ring Up 10.75% Yields With 4+ Year Rolta Yankee Bonds
    Feb. 21, 2014 RLTAY 4 Comments
  • Average 9.9% Yields With These Short Maturity FX1 Portfolio U.S. Dollar Bonds
    Feb. 20, 2014 AGVDY, APSA, BND 1 Comment
  • Discover 8.25% Yields With HudBay Minerals Yankee Bonds
    Feb. 17, 2014 HBM Comment!
  • Sleep Well With 6.5% To 9% Yields In Short Term CAD Convertibles From Temple Hotels
    Jan. 23, 2014 TMPHF 2 Comments