It seems that the last trend for companies is to repurchase their loans. The problem with this kind of repurchase is that everything what is paid above the 100% is taxable income and subject to witholding tax.
This happened to me as I putted some mones in a loan of Alpiq as their cotation was low and today the company is in a better situation and there is a repurchase offer for 105.5% in which the 5.5% profit would be taxable income.
Better to sell it in the stock and make a capital gain not taxable. The repurchase offer is eventually of some use for pension founds.