3633 days ago
I have noted before how the yield to maturity on Gulf Keystone (GKP) Bonds was a terrifying sell signal on the equity. For folks who have ignored me I have bad news: it is getting worse.
Before Gulf managed to get away its last $250 million bond issue the YTM on its existing 6.25% bonds was a terrifying 15% - well into junk bond territory. However the most recent IMS seems to have ignited fears that Gulf might just need yet another refinancing as Lucian Miers flagged up HERE.
And so the YTM
