The debt reorganisation jobSurprinsingly, they want to push the term of another slice of debt only two months after the last move.
To be clear, they want to reimburse 540 M$ of 2 year term debt. This will be financed by a new 8 years (2032) 500 M$ bond and 40 M$ from working capital. Maybe more if, as usual, the market response allow them to increase the new issuance.
I understand that they want to clear the 2 B$ debt balloon of 2026, 2027 as fast as they can.
Given the current bonds rates, the new issuance rate will be over 8%.