RE: RE: Boom John, I agree with your calculations. YM will be able to use up to $125 million of the revolving LOC once YM has paid $75 million of the non-revolving CF. So, as you say, if YM is able to buy some of the 2013 MTN's at a discount, they can certainly buy more than $125 million of 2013 MTN debt. And my interpretation, they can buy either of the 2 notes due in 2013.
The credit facility is due for renewal in Feb 2013, so YM will be able to negoitate more favourable terms and whatever other debt YM would be able to pay off, perhaps work on the 2014 debt or any debt for that fact.
mNm