Dunno giving up the entire company to reduce debt from 21bn to a mere 13bn is scary. Shows how utterly shafted the company was if a full debt-equity swap barely takes 1/3rd off the entire debt burden.
Be interesting to see how much they think this'll remove from the interest payments and if they'll carry on bleeding red ink just slightly more slowly temporarily while the debt and in turn interest payments accumulate again.
reply to David Well, I figure if the loan payment (which was posted here) was 74mil that they missed I am figuring about 1/3rd of that at either 24-28mil per payment.
of course after that you would have to subtract the mandatory CEO compensation of 15mil to get a grand total of 9-13mil.
·
·
·