its clear thats what happened, but they could have raised $400mil only. pay back oct and feb debt only. buy more time for sales or full restructure.
to raise $400mil would require lenders to agree not to sweep it, so it could go where needed-OK
beppa permission because interest in arrears- OK
BBI agree-OK less dilution.
their solution is extreme, it will fix everything from operational sense but isnt the best overall solution.
cheers(although im on ignore lol)
its clear thats what happened, but they could have raised...
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