RE:GOOD MOVE: EXTEND Maturity & SHIFT DEBT TO NOTES- BTE must of SIEZED THIS OPPORTUNITY in this DEBT MARKET OPENING to LOWER BOTH RISK and COST of DEBT
- they ALREADY CONSULTED the NOTES BOOKRUNNERS to get a GOOD FEELING on their SUCCESSFUL PLACEMENT
- the ONLY STICKING POINT is the EXACT COUPON RATE on the Notes
- I 'EXPECT' IT to be LESS THAN 8.75%
z173