RE:RE:Q4 Financial ExpenseCorrection: the 'deferred fee" to the loan sharks is $50m, not $45m.
commonsense9 wrote: And how about this lovely little kicker:
A $45million 'deferred fee" to the loan shark lender, presumably due the same time as the term loan: October 2023. They began accounting for that in Q4. Amortize that over 4 years of the loan... and that makes the real interest rate of 20%!
And if they manage to pay off the loan before maturity, the whole "fee" is still due. This is buried in sub-clauses of Note 12.