Originally Posted by
Frank717
In my own opinion:
Buying your own debt is not a testimony in solvent company. Since real debt is (usually) held as a percentage of dollar amount, it’s likely it was purchased at a loss from the previous owners. It’s likely a win-win for Neff.
In case of bankruptcy, he might know about how it will be paid out once the company is gutted. (Maybe .67 per $1).
If the company is kept afloat to make payments, he’ll earn money on the returns… until it’s paid off or bankrupt, then every payment received could be realized as profit.
He might also gain first lien rights with this, meaning he will hold the assets in a bankruptcy.
He is halfway through the cardinal directions though. Let's see if next is Eastern Global, or Southern Global, as Nordic and Western have now been used.