RE:RE:RE:the bank calls the shots now.....teevee wrote: if the banks are content to renew the LOC, then debenture holders can look forward to being paid with stock at market prices. I doubt debenture holders will like that, resulting in a stampede to the exits after massive share dilution.
Nor will the equity holders like that Teevee - which means it will probably not happen.
There will be an amendment to the note, but we don't even need to worry about it for the best part of two years - which in my experience is a lifetime in the oilpatch .............
We have been through this teevee. The deal has been rejected, so scare mongering isn't going to change anything. I am looking forward to prolonging the term of the 2016s during this period of artificially low interest rates - I will consent to this as will many others in exchange for an even higher interest rate, a consent fee and or a reduction in the conversion ratios..........
Nobody disputes that it will take a while for Arcan to pay down their debts - happy to hang along for the ride.......................
Be gracious and change the record..........