@calvinfroedge The holder composition is what matters more. I'm guessing enough paper has traded into distressed funds that a deal can be reached. What that deal is though...
@calvinfroedge It's gonna be hardball between pbr/ig4 and the creditors it's just natural for some skittishness. I'm sure it will resolve in a satisfactory manner but will be a wild ride
@jukan05 I don't get what the hoopla is all about, pretty normal biz practice. Anyone who's got a DRC or Patek allocation from an authorized retailer knows exactly what's going on ¯\_(ツ)_/¯
@ALLKAResearch FWIW based on what I'm reading we could be making it out of this with a non-dilutive resolution: creditors gives A&E and Petrobras gives generous supply terms and committed feedstock at good prices, etc. Obviously BEST CASE but we're a ways away...
@U3Caf2@ALLKAResearch Minorities essentially have a tag-along. Because Nov received debentures, I guess they will translate that into a fair-value for the shares and offer that as takeout price. 'Fair' is going to be the crux; can be face value or can be NPV (then the discount rate matters...)