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Jahrules

Possibly the 1-millionth Pantheon thread viewer.
Advisory Panel
Feb 3, 2019
3,089
5,459
250
This is actually really smart of seas. They didn't go to the open market for these bonds so they don't have to pay the market interest rate.

I'm suspecting hillpath backed this.
 
Nov 30, 2018
1,340
1,414
250
The issuance is a private deal outside the US. It's possible that these were below market rate, though they may have warrants or being convertible in that case.
 

Jahrules

Possibly the 1-millionth Pantheon thread viewer.
Advisory Panel
Feb 3, 2019
3,089
5,459
250
I didn't get to listen to the call, but pulled this from their quarterly statement:

On April 30, 2020, the Company closed on a $227.5 million private offering of 8.75% first-priority senior secured notes.
 
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