RE: RE: RE: A little pullback and then off we go mouserman, imagine the following sequence:
1) Yellow goes to banks and tries to renegotiate credit line terms to allow early repayment of MTN 2013. Banks refuse.
2) Yellow tries to get private financing to replace bank credit lines. No one offers on acceptable terms.
At this point, why would you delay CCAA until Q1 2013? Having exhausted 1) and 2), there is no chance you can repay the 2013 MTNs. Why delay CCAA, when CCAA will give you a much easier life, and give customers, vendors, and employees considerable increased certainty.