Originally Posted by
Name User
They stated on the earnings call that 40% of our debt is pre-payable without penalty, and the average of our total debt is roughly 4%.
Yeah, but the LAST sale of junk bonds was at 12%. As those 3.5-4.0% bonds become payable, it is unlikely they will be able to roll it over to new debt at anything resembling 4%. Look at what the yield to payout is of AA bonds in the secondary market is right now.