"over subscribed" give me a break, in an environment where viable companies with hard asset to secure bonds ie proven mines with precious and base metal or oil and gas are having a hard time getting deals done a bond issue back by an arb case will be a very difficult sell, issue could be pulled off for the right price but won't be surprise if this is under subscribed or closes at all, with all the problems in Euro zone and North American banks risk aversion, where is this private placement money coming from, Italian bonds are down yielding 7% plus, would you invest in Italian bonds or put 120 mil into a company that without this financing wil defaulting on a 100 mil bonds deal?? some just loves to hear what sounds positive, until PR of this deal closing and coins are in the bank, nothing has changed, some may like you to believe for whatever reason, would think by now all the BS about inside info over the years would be lesson learnt, sometimes reality is not the popular thing to say