RE:RE:RE:RE:RE:Value investor club spring write upFriendo I think you are missing the point. Although the coupon on the seniors is not exorbitantly high, they are trading at a stout cash yield but most importantly they are extremely expensive if the co cannot buy back stock with the EV trading at 1x 2023 ebitda. Or pay a high payout ratio dividend for that matter. Bonds either need to be negotiated to allow that or they need to be eliminated in entirety.