GREY:LSTMF - Post by User
Post by
darkstreamon Jul 14, 2016 7:08am
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Post# 25051237
Bond Holders Pissed
Bond Holders PissedIt appears the two Bond Holders Wright screwed last year will not allow this latest proposal to go forward. They need another plan very quickly. This Ad Hoc committee seems to be made up of 1st lien holders and they are just blowing smoke. Its time for the first lien holders to move the credit line back up to net neutral. Whats the difference. The money has been eaten and schitt out already and they would get it back on a future foreclosure should that happen. Currently LTS is generating $5M US a month on $45 oil. Should oil ultimately stabilize over $50 they would be viable. Wright should pay the bondholders $25M today with a promise to pay $5M a month until the interest due is made whole. Tell the 1st lien holders to Schitt or get off the pot.