"Only a bankruptcy can interrupt interest payments. And this bond’s claim is junior only to Linn Energy’s $2 billion credit line, on which just $75 million is currently drawn. "

Bankruptcy priority is a bad reason to buy. Been there, done that.  You'd be surprised at how little the average investor gets even on a secured position in bankruptcy these days. The big guys have smart lawyers. Bankruptcy courts look like a honest process but you have a better chance at beating a Chinatown Chicken at Tic-tac-toe than coming out a winner. The odds are stacked against you.

Newsleter writers like Conrad should be taken with a grain of salt.  His statement may be legally accurate, but it is certainly misleading.  I don't follow this stock, but Yahoo is showing debt at $4.93 billion. This far cry from a $75 million.

Just my opinion.

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The Chicken Always Wins

Chinatown Fair Is Back, Without Chickens Playing Tick-Tack-Toe

http://www.nytimes.com/2012/06/11/nyregion/chinatown-fair-returns-but-without-chicken-playing-tick-tack-toe.html?nl=nyregion&emc=ura4_20120611