Pricing and Demand, page-25

Agreed..
But the creditor has provided a loan of US250M, so they beleive in the worst case scinario they will get $250M in a fire sale and get hearty interest on they way through. Plus plenty of clauses to protect the lender I would assume.
But I do agree that 8.75 is much better that the 11% from the previous years, although 8 .75 is up there when compared to global rates. Depending on earnings $30 M is a big chunky burn if the money stops flowing in.