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nwoodman
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This one seems to be working out very nicely.  From the Independent  http://www.independent.ie/business/irish/fbd-faces-battle-for-control-after-shares-soar-35687594.html

 

The recovery in the FBD share price means that the €70m bond issued to Fairfax in 2015 is now virtually certain to be converted into a near-20pc shareholding in September 2018, diluting the existing shareholders and triggering a battle for control of the only remaining Irish-owned insurer.

 

and

 

Following the huge losses recorded in 2015 FBD bolstered its balance sheet by issuing a €70m bond to Canadian investor Prem Watsa's Fairfax Financial. Not only does the bond pay a hefty 7pc coupon or interest rate, it is convertible into FBD shares at any time from September 2018 if the FBD share price rises to €8.50 or above.

 

A move to more of these "paid to wait" type deals is very welcome

 

cheers

 

nwoodman

 

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This one seems to be working out very nicely.  From the Independent  http://www.independent.ie/business/irish/fbd-faces-battle-for-control-after-shares-soar-35687594.html

 

The recovery in the FBD share price means that the €70m bond issued to Fairfax in 2015 is now virtually certain to be converted into a near-20pc shareholding in September 2018, diluting the existing shareholders and triggering a battle for control of the only remaining Irish-owned insurer.

 

and

 

Following the huge losses recorded in 2015 FBD bolstered its balance sheet by issuing a €70m bond to Canadian investor Prem Watsa's Fairfax Financial. Not only does the bond pay a hefty 7pc coupon or interest rate, it is convertible into FBD shares at any time from September 2018 if the FBD share price rises to €8.50 or above.

 

A move to more of these "paid to wait" type deals is very welcome

 

cheers

 

nwoodman

 

Good find! Thank you for sharing.

 

Cheers,

 

Gio

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