The unsecured bond holders don't need to accept this offer if they think 46% is a good recovery rate. They can just short GM stocks at the current price or go naked call if they are still available. The weird thing is that GM goes up today even with this news.
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The unsecured bond holders don't need to accept this offer if they think 46% is a good recovery rate. They can just short GM stocks at the current price or go naked call if they are still available.
Apr 27 22:58 pm
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All Comments by hatarakiman »GM Bondholders: No Good Answer [View article]
The weird thing is that GM goes up today even with this news.