RE:RE:News Debt is rarely restructured with a lower interest rate; it has less to do with the risk associated with the company being lowered than the following........
For those of you who still think that Vertex will take more than a pound of flesh for the relinquishment of the royalty need look no further than this second debt restructuring and lowering of the nominal interest rate on the debt. Vertex again is showing the market that they understand their payday will come from an increased share price and not interest paid on the debt they own or the royalty they possess. Lowered interest payments and an amicable quid pro quo deal to swap out the royalty will both result in a higher share price.