Edison Mission Energy (Unsecured Bonds)

Credit, Energy


Highlights

Edison Mission Energy (EME) was deconsolidated from Edison International (EIX) in December of 2012 after filing for Chapter 11 protection, and the presenter’s analysis is focused on three core assets: EME’s wind business (mostly contracted), a merchant coal segment, and Walnut Creek, a 500 MW natural gas plant in California’s LA basin. Over the next 18 months, the presenter expects these businesses to be sold and/ or transferred in an orderly fashion. He is long the credit as he believes claims on the bonds could go from $0.50 to $0.55-$0.70, depending on the value of the asset.

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Idea Discussion

Commentor 1 - 2 weeks ago

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