Re: Lets get a reasonable offer of equity for debt from Bondies
in response to
by
posted on
Apr 05, 2012 01:08PM
Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
We are desperate that is why we have a gun to our head. The bondholders want us to get nothing but have upped their offer to 14%. The Tenor deal gives them 35% CVR plus repayments of the loan and interest as well as management getting 10% of the first $700 million in settlement and 2% afterwards with a cap of 25% of the award.
I believe all parts of the CVR are done after everything is paid for so at least it isn't off the top.
If a better deal comes along then great but right now I will take the 55% over the 14% from bond holders.
JJ