Klöckner Pentaplast - comment

So we were wrong about the popularity of the deal for the SUNs. As of Friday, 87% of SUN holders had signed up to the somewhat coercive deal. We had expected a greater share of hold-outs, as the current paper should be repayable at maturity. The early bird deadline has accordingly been extended to &th of March, and at this rate, KP are likely to get the 90% done after all.