Topic Archives: Event Driven Converts

MTG deferred coupon trade – August 2010

November 1, 2010 – 7:26 pm

MTG deferred coupon trade – August 2010 Trade Summary September 2010: Long MTG 9% convertible bonds and long October 6 strike put options. MTG began deferring coupons on the MTG 9% convertible bonds beginning with the April 1, 2009 coupon. According to the indenture, MTG had the right to defer the coupons for up to […]

Ford deferred dividends on preferreds – Feb 2010

August 1, 2010 – 8:02 pm

Trade Summary Based on our analysis as detailed below, we believed there was a high likelihood that Ford would take some corporate action that would include a resumption of dividends or a call for redemption, or a tender offer. The trade was initiated with the possible three outcomes: I) The company would initiate the dividend […]