Lars Larson  
ON AIR NOW
Lars Larson
12:00pm - 3:00pm
Lars Larson
Contact Me
 
Infinite Menus, Copyright 2006, OpenCube Inc. All Rights Reserved.

Local News

Jeld Wen's Bonds Rated "Junk"


With all the woes in the stock market these says, it couldn't be a worse time to try to sell bonds. Oregon's largest private employer, Jeld Wen, is trying to sell $575-million in bonds as a prerequisite for a $864 million infusion from Onex Corporation, a Canadian firm. Tyles Simones with Northwest Quadrant Wealth Management says they are going to have a tough road ahead of them because the S & P has rated these bonds as "Junk Bonds". "It doesn't seem like the best deal in the world for me, because they're going to have to pay such high interest rates on those bonds, and they're giving up a big part of their equity position in the company, and so they must be in a place where they, I’m sure are feeling a little bit backed into a corner and need to do this deal. I'm sure if they had their druthers, they'd rather not do this deal." Simones says Jeld Wen is in the construction business and resort industry and both fields have taken a big hit over the past few years; their company does not look attractive to investors.

 

 

Share

LinkedUpRadio Envisionwise Web Services