RE: RE: RE: RE: Bank bargaining chip BlueCollar:
I'm agreeing with you about the cash crunch that IS coming.
However, in July/Dec 2013 they do not have to be paid at face value. If bondholders force CCAA they get largely wiped up (about 10 cents or less on the dollar). I think they'll take well less than face value especially if the deal is sweetened with equity incentives.