I've been reading the MAC presentation. It does appear they want to significantly reduce existing debt.
MAC is focused on optimising its balance sheet, which includes de-levering, and believes that this placement will enable MAC to put in place a more typical balance sheet commensurate with the asset quality and maturity of the business. Investor feedback has been for MAC to move to a more typical long- term capital structure.
But as you say the last line talks about "providing additional flexibility to pursue strategic inorganic growth opportunities."
With our market cap of <$300 million I reckon MAC could manage that.
All the best.
KKR
AMI Price at posting:
17.8¢ Sentiment: Buy Disclosure: Held
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