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Citi Issues 8K Clarifying Preferred Exchange Terms
Read all about it here. Looks like discount to privates is only 5%
Summary of public preferred terms:
We are perusing the 8K currently.
Seems public preferreds are happy. C AA stock spiking after government announces conversion number of public prefs into common shares will be equal to the privates after all... unless we are reading this totally wrong...
update - odd selloff in preferreds now from highs of $9.75. Nothing to see here...
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