Elena, with respect I think you're getting enquest wrong. The chart suggests the first likely decision point on price is either 40p or 42.5 from my point of view. For the bonds, go search through the LSE discussion, it's not quite the way you're portraying it. Also, debt wise, they paid down 132 million in Jan/feb (POO around 85 average), obvioulsy with higher POO since that date, they're likely to pay down a lot more than that for Mar/April. This is no longer a quick in and out trade, it's a bet on the company having turned the corner. In my view, it will rise beyond 40/42.5 and head towards 56-60