Well if we include financial costs for the previous one as well I’m sure we’d get a “real” rate of above 15%. Só comparing the nominal part it is better terms.
As to conversion or rate going up to 18%... if the company can’t repay its debt I don’t expect to get anything back as an equity holder, would you? debtors always get in first so why do you care so much about what happens if the company defaults? Honest question.
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