RE:RE:RE:RE:RE:Here you goIt you believe that they can service the debt with fake EBITDA, then why don't you buy the bonds?
38% yield is amazing, don't you think?
trivela wrote:
They have $410 in cash, anticipated EBITDA or $400 in 2017, how on earth will they have any difficulty paying down the earn-outs or even the bridge loans (the bridge loans represent more or less $120 million)? By the way: the bridge loans "cost" $13 million in annual interest, so, if they pay the bridge loans this year, interest expense will decline a bit. They also have to do mandatory prepayments in the dollar and pound bank loans. So, come 2018, the interest expense will start to decline, and free cash flow after interest payments should be well in excess of $100 million/year.