AKS - Yielding Over 10.5% AK Steel's Longer-Term Bonds Looking More Attractive
AK Steel (AKS) stockholders continue to get beaten down. The company’s stock price recently fell below $2 per share. Fixed income investors, however, have been seeing mixed results. The company’s shorter-term bonds have held up in pricing, while longer-term bond prices have declined to the low 80s. The corresponding increase in yield has left the company’s 2027 bond yielding near 11% to maturity with a 7% (or 8.6% of cost) coupon yield. With stable financial results, AK Steel bondholders can see great returns on the company’s longer-term bonds.
Source: FINRA
Source: FINRA
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