Originally Posted by
Al Czervik
So now we’re refinancing the ENTIRE debt load?

Unless you can pay off the bonds as they become due, yes. How much of the debt do you believe you CAN pay off, remembering that liquidity can’t go much below $7 Billion without triggering penalties on some of the bond issues that will either require additional collateral or make the bonds subject to immediate redemption at par.
And paying debt off with a line of credit is pretty much like paying off an existing credit card debt with another credit card charging a higher interest.