there is a carve-out in the original note prospectus where they are not required to accept all notes exchanged (i.e. if the exchanged notes represent more than a certain % etc of the IPO proceeds or similar...sec 2.6.5 I think, chjek that) but believe that clause will be comfortably satisfied given the sizse of the new money raised here. Co. separately stated any notes not exchanged will be redeemed (@ 101% plus acc). Again, dig out the announcements / prospectus to satisfy yourself, but that is my (current) intention.
