RE: Au Paulian action from QcMoneyMaster This is a p-ssing match between the banks and the MTN's with no one representing the shareholders who are giving up 83% of $500+ million annual EBITDA to pay down about 1/3 the debt ($500 million) and paying significantly higher interest rates + a $45 million fee.
I don't know where you are getting this $500 million debt reduction number. Here are the debt numbers I have:
| | Before | After | Difference |
| MTN | 1,405.51 | 850.00 | |
| Debenture | 183.67 | 0 | |
| Bank | 369 | 0 | |
| Total | 1,958.18 | 850.00 | 1,108.18 |
Under the deal, Yellow Media would have $1.1 billion less debt. Even though the average interest rate would be higher, they would pay significantly less interest because the principal amount would be so much lower.