Win-Win Swap

Trico Marine Services, Inc. announced on Monday that the company, with the assistance of Lazard Freres, had agreed to exchange the remaining $253 million of its 6.5% Debentures due 2028 for, in the aggregate, $12.6 million in cash, 3.03 million shares of the Company’s common stock and $202 million in aggregate principal amount of the Company’s new 8.125% secured convertible debentures due 2013.

Written by: carisk | Categories: Freshly Minted, The Week in Review | May 14th, 2009 | Add a Comment

The Wall Street Journal’s Shipping Analysts Of the Year

For a Wall Street analyst the annual Wall Street Journal Best on the Street rankings is like an AcademyAward, only worth more, certainlyto those investors who bought basis the winning analysts picks.

This year Scott Burk at JPMorgan, but Bear Stearns when his picks were made (JPM acquired Bear Stearns in a sub-prime fire sale last March) came out number one in the Industrial Transportation classification. Doug Mavrinac of Jefferies & Co came in second and Omar Nokta with Dahlman Rose grabbed the third spot.