RE:Anyone else find this concerning?Writing this with raised eyebrows. Of course the debt needed to be refinanced and I'm glad it's done. But to the author of this post I would say, yes, I agree that the terms are pretty generous to the lenders (9.75% interest paid monthly). The only reason to pay such a rate is as compensation for risk and when there are no other takers.
In reply to the person who commented to the effect that 'at least we know the company will continue to be around', I would say that this refinance does not guarantee that outcome. It does guarantee that the lenders will get paid (handsomely) regardless of outcome and in fact, could wind up owning the assets if things were to go sideways.
Not trying to be Debbie Downer, but it's not like the debt was refinanced at a great or even prevailing rate. I have a better rate on my banks' unsecured line of credit...