RE: RE: Refi, YLO, LEE, Buff, BRK Actually Lestat the bankruptcy deal was to only to move back the maturity dates to Dec 2015 and April 2017 respectively. All debt stands as is and in consideration for the date extension the company raised the interest rate from 5.1% to 9.2% and some creditors were additionally gifted with 13% of the equity.
Warren did take a small position (For him) in the debt, but not the equity. If the company fails in paying these higher interest rates then in time they will take over the company. It is a win-win on the debt side but a time bomb on the present equity.