StaySeated
IBT does not represent ME
- Joined
- Nov 27, 2001
- Posts
- 782
Wow their balance sheet is downright scary.
They just had a $175MM offering four months ago. The only way they could sell those notes was offer them at a discount and at a rate of almost 13% interest.
Now they are borrowing another 1/2 billion? Who in the world would get in the long line of unsecured creditors at this point?
Their unencumbered assets have gone from $3 Billion to $1.1 Billion, in less than 12 months.
They just had a $175MM offering four months ago. The only way they could sell those notes was offer them at a discount and at a rate of almost 13% interest.
Now they are borrowing another 1/2 billion? Who in the world would get in the long line of unsecured creditors at this point?
Their unencumbered assets have gone from $3 Billion to $1.1 Billion, in less than 12 months.