Actually it's a higher interest rate - 9.75% vs 9.45% previously. And $60 million is going straight to Hercules Capital to pay off the previous debt. This leaves MSB with an annual interest bill of $8,775,000 on effectively $30 million of extra capital. Nothing to celebrate.
Ann: MSB and Oaktree Conclude Refinancing of Senior Debt Facility, page-25
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