they've done the right thing in raising money, even at a coupon...

they've done the right thing in raising money, even at a coupon of 14-16% effective interest. why GE, a AAA company had to give Buffett a 10% coupon on a Cnote yesterday to raise cash to get him on board.

The terms mol gave are not untoward in this type of mkt. if it had fallen through, real chance the project would've been delayed 1-2 years and oblivion was the result for equity holders.

It is about the market value at the moment, and the co. with all their corp. people and money should be talking to their large holders reassuring them. Why, because they don't want to be raising quasi equity and later equity with a sp at 30-50c which is possible on current trends