Pali Capital’s Richard Greenfield posits a “meaningful upside” in Charter shares due to positive divergence of the MSO’s bonds and stock price, and because 88% of its existing convertible senior note holders agreed Thurs to exchange their existing 5.9% ’09 notes for 6.5% ’27 notes. As price changes in Charter’s bonds and share price typically mirror each other and its bond prices are now appreciably higher, Pali sees ample room for the share price to “catch up.” In addition, the high number of convert holders’ exchange offers allowed Charter to “virtually [eliminate] all of its [debt] maturities thru 2009,” wrote Greenfield. Charter shares closed Fri at $2.58, up 2.38%.

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Thursday–February 25

Illinois ISP Faces CAF II Forfeiture

As lawmakers and industry groups call for the FCC to thoroughly vet winners of its $9.2 billion Rural Digital Opportunity Fund Phase 1 auction to avoid defaults seen in Connect American Fund Phase II auction

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