RE:RE:RE:RE:RE:US$350 Million Notes OfferingIndeed, this is the only bright side of the refinancing. Atleast some of the "uncertainty discount" should now be lifted from the stock.
Definitely funny...I remember months ago that there were many on this board rationalizing the reason that refinancing was taking so long, was the fact that management was going to be able to negotiate a super good deal, with loosened convenants and a 5% coupon rate.
Nope, turns out the reason for the delay was the most obvious answer...the company and its bankers were obviously having trouble selling their refinancing plan. The basically gifting away of 15% of the company for the privilege to refinancing at basically the same coupon rate demonstrates this fact extremely clearly.
fellowship wrote: The company is now de-risked. We start a new chapter.