Georgia Gulf (GGC) Closes Sale of 9% Senior Secured Notes due 2017
As I mentioned earlier they were priced to yield just about 9%.
The notes are senior secured obligations, rank senior in right of payment to all our existing and future debt that is expressly subordinated in right of payment to the notes, including our existing senior subordinated notes, and rank equally in right of payment with all our existing and future liabilities that are not so subordinated, including the ABL Revolver and our existing senior notes.
2 comments:
Management at that company is not sitting on its hands anyway.
And of course your observation is correct.
Post a Comment