What Does this Say About Risk Appetite?

While we understand that investors want equity type returns for equity risk, we are unsure what that means these days. Over the past two weeks, we have reported on Songa Offshore’s recent capital raising exercises. Initially, over a period of 6 weeks, the company tried to do a $200 million bond offering, which was eventually deferred due to market conditions and a timing issue related to the aging of the financial results incorporated in the prospectus.

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