GREY:LGLTF - Post by User
Comment by
BlueHorseshoe13on Feb 14, 2016 5:33pm
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Post# 24558072
RE:RE:RE:RE:RE:Any material change to credit agreement besides extension ?
RE:RE:RE:RE:RE:Any material change to credit agreement besides extension ?Agree that it is good for a two cent pop, maybe more -- very very good news. Not sure why this wouldn't generate a presser Feb 4 when it was executed. ANON blows off 3M at 2 cents two days before MAC change to the positive is filed. weird. Good, but weird.
Methinks RBC wants to have a look at the Q1 interims before rolling up the tent. Also very good that the cash flow restrictions are less onerous than previous. There's also a good chance that Ritcher (the lender's FA) did some pretty heavy due dil over the last month. Fact that RBC wants to keep going means they liked what they saw.
I'm guessing the whole story is something like this. Daddy Mac got pref P invetors to JUMP with soft commitments in December. Then January came, markets tanked and the deal fell through. Then either RBC decided the break out value of the subsidiaries wasn't going to cover the loan and costs, and/or LRN started to show life with increased cash flow from ops. Either way, the Mac Truck is gonna be delivering pizzas until late April.