AMC Networks: “Breaking Bad” Bonds

Breaking Bad

In December 2012 AMC Networks (AMCX) (which spun off from Cablevision Systems (CVC)) issued $600M in new corporate junk bonds due in 2022. The bonds have a 4.75% coupon and are continuously callable beginnning December 2017. Currently the bonds … [Read more...]

Don’t Get Ripped Off by This Bond Market Shenanigan

Bond Market Schemes

In his book, The Big Short, Michael Lewis describes in the following way how Danny, the head trader for Steve Eisman, approached trades that seemed perfect. “When a Wall Street firm helped him to get into a trade that seemed perfect in every way, … [Read more...]