Discounted 10% to peers since the news hit. All the concerted pumping in the world can’t stop the cold, hard cash from talking loud and clear.
Meanwhile, the most incisive mail received by your humble scribe on the issue today noted the wonderful way in which the Collective United Network of Toronto Saleforce (you know them as brokerage sellside anal ysts, no need to use acronyms) says nothing about LUG’s use of a 5% discount “...when cost of capital for non investment grade issuers is 14-15%“. Exactly right, kind reader.
Or maybe you think that having the name “Lundin” up there makes it automatically investment grade.