Does anyone know what JPM plans to do with the Bear Stearns bonds that they inherited after the M&A?
I hold some 7.5% coupon expiring in 2018, callable. JPM raised money selling new bonds at roughly 6.5% this week ... wonder when they might retire the BSC bonds, which are trading at par in the illiquid secondary market. If JPM has no plans (or not enough capital) to retire the BSC paper, shouldn't these trade at slight premium (to make them comparable yield to maturity vs. the new issuance)?
Bond Expert: Friday Wrap [View article]
I hold some 7.5% coupon expiring in 2018, callable. JPM raised money selling new bonds at roughly 6.5% this week ... wonder when they might retire the BSC bonds, which are trading at par in the illiquid secondary market. If JPM has no plans (or not enough capital) to retire the BSC paper, shouldn't these trade at slight premium (to make them comparable yield to maturity vs. the new issuance)?