RE: RE: RE: RE: Great future ahead.
"What's wrong with YLO negotiating renewal of the Lines of Credi with provision for buying back debt maturing in the next two years (at a discount) just like the other major world players in the industry."
Just out of curiousity sake how do we know that YLO didn't try that approach first? For all we know YLO could have gone to the banks and tried to negotiate the renewals and were flat out laughed at and shown the door. Or perhaps they didn`t meet these secret covenants with the banks, and thus even if they put back 125 million in the LOC they still weren`t allowed to buy back MTN`s at a discount. Thus forcing YLO into bed with the MTN holders, with atleast the satisfaction of smacking the lenders upside the head for slamming the door in their face. Everyone keeps saying well all they have to do is this or all they have to do is that, well that's easier said than done, for all we really know they could have tried all of these angles to no avail. I still haven't decided which way I'm going to vote, I'm still holding on to the faint hope that the syndicate will release their plan by Friday that will be of more value to me as a common shareholder.
Right now the main protesting on the equity side is from the preferred holders because of dividends in arrears etc. No one seems to care about the common shareholders, I agree that this plan is unfair and bs to all equity holders but why would I vote No if I thought there was a strong possibility that that extra that you preferreds are demanding would come out of my pocket? After all my equity is at the bottom of the food chain so there is a strong possibility that I would be affected by any new demands and negotiations. And yes I`m aware that if somehow YLO got out of this mess without having to give up 82.5% to the creditors, then I stand to make a very large profit, but as it stands right now I will most likely also make a profit by voting in favour of the plan, albeit on a much smaller scale. So for the next few days I am undecided but I can assure you I won't be influenced by your repetitive capital letter NO VOTE highlighted in yellow.