SALP Unearned InterestLots of shareholders seem to misunderstand this. SALP didn't convert any unearned interest on the debt to equity as part of the refinancing.
Assuming that the carrying value of the loans on the balance sheet is the amount that Prometic borrowed is incorrect.
The Q1 2019 balance sheet has debt of $146M. Between Q4 2013 and Q1 2019, Prometic borrowed roughly $210M from SALP. The reason for the difference is accounting adjustments that are made in accordance with IFRS. It doesn't change the total amount that was borrowed or the amount that's owed.
Interest that was legally earned prior to March 31, 2019 was added to the $210M borrowed to get the $229M that SALP converted.