Method
What a bond price says about value
Turning a price of 60 into a multiple for the whole business, and checking it against what companies like it sell for.
Credit InvestorWhat a bond price says about valueComing soon
12:00A price on its own tells you very little. This video works through the creation multiple: what you pay for the whole business if you buy one class of its debt at today’s price.
The written version, with the worked example, is Creation multiples: what you are really paying.