Originally Posted by
Excargodog
From today’s WSJ:
https://www.wsj.com/articles/america...hs-11615973407
“No major debt” is in the eye of the beholder. I believe there is $500 million due this year and $750 million next year, both of which can probably be refinanced by another bond sale, albeit probably at a higher coupon. But most of the big bond issueswill mature in 2023 and later.
Compared to $50 billion in total debt, $500 million and $750 million probably qualify as “no major debt” needing to be repaid before 2023. That is only 2 - 3% of the overall debt.
After that, management is counting on strong profits to yield enough cash flow to meet big time debt repayment. It is a roll of the dice, but I think the odds of success are a lot better than Vegas gives you.