RE:RE:RE:RE:correct me if I am wrong
Problem is meetoo - your conservative post restructuring value is 1.5 billion - that is only 3/4 of the face value of the debt that they are trying to restructure................. This will be a big problem for the unsecured note holders who are all higher up the capital food chain than existing share holders. How big a haircut will they be prepared to take? I know the secured note holders have laughed at the idea of any discount whatsoever - but they are only a 300 million issue................... Intrigued to know the discount that Concordia got on the other loan - they won't get one out of the secured lenders - so how much are the unsecured note holders prepared to give up before they are better off in CCAA............ Fascinating gamesmanship ahead.......... enjoy the coming catfight.