Beyond the requirements that liquidity and regulators impose on us, we will purchase currency - related securities only if they offer the possibility of unusual gain — either because a particular credit is mispriced, as can occur in periodic junk - bond debacles, or because rates rise to a level that offers the possibility of
realizing substantial capital gains on high - grade bonds when rates fall.
In addition to negotiating on behalf of its client for the bankruptcy court to honor the discount, Dominion offered a creative
capital stack in order for its client to
realize substantial savings.