Well, now the repricing is at hand, and it is not going to be fun.
If successful, Husky will be the first issuer to have a first-lien repricing since Gibson Energy in May.
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The credit crunch has also opened the way to the repricing of loans.
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The only thing good you can say about this incremental dilution is there will be no downward repricing of options.
"There is a separate Asian theme, emanating from China, that is partly behind the repricing, " said Tim Condon, economist at ING.
It is possible that this will make employees even more willing to do their own repricing, by taking a job elsewhere.
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New accounting rules mean that repricing them down will count against profits.
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The steep correction in housing markets, while painful, lays the foundation for recovery, far better than the countless programs that have sought to subsidize and temporize the inevitable repricing.
This addresses a major concern with the repricing of stock options after company value falls: Repricing rewards the CEO for failure by giving him a lower stock-price target to reach.
For these reasons, account managers are resigned to the fact that repricing volume will likely continue to flourish in the months ahead as issuers exercise what amounts to in-the-money call options.
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Given that the costs of solar panels have been falling, total falls of about 70% in fact, since the current FITs were agreed, it makes sense to have a review and possibly a repricing.
This point is particularly relevant when it comes to a new form of cheating: repricing of options (where executives are offered relief from bombed-out share prices through new option agreements granted at a lower price).
The "repricing" has sunk some of the smarter traders, including those running two now-defunct hedge funds at Bear Stearns (nyse: BSC - news - people ), as well as the traders running money at Goldman Sachs ' (nyse: GS - news - people ) Global Alpha fund and others.
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