RE:RE:RE:RE:Revised Deal Terms OutOne other thing, they have $320 principal value now voting yes and will get the 3% early consent fee. That is $9.6 million or almost two years of interest savings. If the full amount of bondholders go for the early consent (which they should because looks like deal with be approved), that is $14 million, so 2.7 years of interest savings!
If you take the 54% principal + the consent fee + the $75 million of new notes, bondholders are getting 73% of original principal value that will earn a blended rate of 9% and security for the bulk of their new bonds. Not a bad outcome for bondholders in anticipation for Chapter 11!