Q: Could you share the significance of their recently secured $500MM in debt and how this may impact the stock price.
Appreciate all your hard work. Ted.
Appreciate all your hard work. Ted.
5i Research Answer:
We would not consider it overly material news. The issue is simply being used to retire existing debt obligations. The average yield does decline, though as the coupoin on the new debt is lower. But we would not expect a material impact to earnings here from this move alone.