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Reasons for excluding these issues include the illiquidity of the relatively small Canadian high-yield market, a claim that is backed up by the slim pickings when you search broker inventories. View real-time stock prices and stock quotes for a full financial overview. (Bloomberg) — Sherritt International Corp., whose executives were once known as Fidel Castro’s favorite capitalists, proposed an out-of-court recovery plan that includes a reduction of 50% in the value of its bonds.The Canadian miner, which has significant assets in Cuba, is offering to buy back as much as C$588 million ($443 million) of its debt at a big discount to face value. Sherritt has another bond issue in the marketplace that matures in November, 2017, and its yield this week was about 6.5 per cent. RBNZ May Hold Fire on More Stimulus as Economy Outperforms That's 8 per cent based on the price of the bonds when first issued.

Some information in it may no longer be current.In a world where a virtually risk-free five-year Government of Canada bond yields 1.3 per cent, it's hard to take your eyes off Sherritt is not one of the heavyweights in Canada's mining community, but it's a steady dividend payer, a member of the S&P/TSX composite index and a global player that has the unique distinction of being a big operator in Cuba. The sooner a high-yield bond matures, the lower the risk investors take on. DBRS says Sherritt's long-term credit profile is expected to improve. Enbridge Inc. (Enbridge) is an energy transportation and distribution company.

Non-subscribers can read and sort comments but will not be able to engage with them in any way. Read more about This advertisement has not loaded yet, but your article continues below.This advertisement has not loaded yet, but your article continues below.In-depth reporting on the innovation economy from The Logic, brought to you in partnership with the Financial Post.This advertisement has not loaded yet, but your article continues below.Sherritt Offers 50% Haircut for Bonds in Out-of-Court RecoverySherritt Offers 50% Haircut for Bonds in Out-of-Court RecoverySherritt Offers 50% Haircut for Bonds in Out-of-Court RecoverySherritt Offers 50% Haircut for Bonds in Out-of-Court RecoverySherritt Offers 50% Haircut for Bonds in Out-of-Court Recovery

Please try againPostmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. The company’s bonds due 2025 were unchanged at 26.9 Canadian cents on the dollar, compared with 67 cents a year ago, while notes due 2023 traded at 30 cents and the ones maturing next year were last quoted at 48 cents. Oil Rises With Prospect for U.S. The Company operates through five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate.

In dire conditions, you might not be able to sell them at anything close to a reasonable price, if at all.Two, they're like most bonds today in that they're trading at premiums to their par value. This site uses cookies to make your browsing experience more convenient and personal.

The company’s bonds due 2025 were unchanged at 26.9 Canadian cents on the dollar, compared with 67 cents a year ago, while notes due 2023 traded at … Bonds Best Investments Portfolio Markets For Professionals ... Sherritt International Corporation ... 7.50% senior unsecured debentures due 2023, … But the company "is expected to be challenged in maintaining relatively stable credit metrics over the next two years as Ambatovy spending continues, albeit at a reducing pace, and lower expected average commodity prices strain operating cash flow. A spike in cobalt prices in 2017 helped the company post its first annual profit since 2012 but it fell back into the red the following year. Sherritt’s advisers are Goodmans LLP and National Bank of Canada, with Paradigm Capital Inc. retained by the board to provide a fairness opinion on the transaction, according to the statement.

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