RE:PAY DOWN DEBT INSTEAD? Your missing step 2 of the plan. Still has 250
million of DIR, which just happens to be the amount of the debt.
they need shareholder permission to give out non cash distribution, ie shares.
expect the 250 million due this year to be paid with the remaining DIR units.
we will all get a special distribution that will essentially be clawed by by diluting units holders by the exact same amount. Those who hold in non registered might get ticket, but it's the best move for long term.