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Michael Terry
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Michael Terry, CFA has nearly 20 years of experience in the investment management industry focused on the analysis, investment and management of fixed income and preferred stock portfolios. Over the years, Mr. Terry has analyzed and invested in both public and private companies around the world... More
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  • More pre-petition money for GM 0 comments
    Apr 24, 2009 12:43 PM | about stocks: GM

    The Treasury Department says it has provided General Motors Corp. with another $2 billion in federal loans as the giant automaker struggles to restructure.  The Treasury said that the payment was made to GM on Wednesday and provides working capital to the company.

     

    I guess you can't have a big enough claim in BK.  Why not wait and prime with a DIP?

     

    Disclosure:  no position in GM

    Stocks: GM
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  • $DDR (Baa3/BBB-) doing $300 of 10yr debt. '22s trade at +160/curve, look for 170ish for the new deal.
    May 16, 2013
  • $ETR doing 50yr $25 par first mortgage bonds through their Louisiana sub (A3/A-). Looks like 4.75%. Value here is in the diversification.
    May 15, 2013
  • $CTU (Baa3/BBB-) doing a 40yr noncall 5yr $25 par senior debt at 6.125%. Looks cheap to $1000 par senior (10yr at 4.50%)
    May 14, 2013
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