65504LAC1 - Noble Hldg Intl Ltd 4.9% 08/01/2020 Discount Bond.
I am doubling down on this high yield, also known as junk, bond. When I first picked this bond and bought it the price was in the $90's. Interest coverage was over 9. See this link: http://www.themoneymadam.com/2015/02/noble-ne-bond-at-discount.html
Clearly, things have changed in the oil and gas patch with Noble's (symbol NE) earnings taking quite a hit. Yet, their interest coverage ratio is over 2.
Most recent quarterly results show an increase in cash and a positive spin on their future by their management.
I paid $60.51 for this bond. YTM is 18%. Maturity is 8/1/2020.
To review data about this bond, please click on the link below.
http://finra-markets.morningstar.com/BondCenter/BondDetail.jsp?ticker=C527375&symbol=NE.AC
Noble Holding, (NE) fundamentals
The table below illustrates the fundamentals of the underling security. This is a high risk trade and all should be forewarned of the risks. Trade price on 2/18/2016 $7.99. EPS = $.26 with Dividends = $.60. D/E ratio is .61 and interest coverage ratio is 2.29.
Good luck,
M* TheMoneyMadam
Disclosure: Long this bond
