Originally Posted by
AllYourBaseAreB
Love to know the structure of this potential deal and what creditors get priority when it inevitably doesn’t work
This is the timeline:
Spirit gets $500M from .gov
Spirit owes $450M in DIP repayment by July 14th.
Spirit hands over $450M to Citadel etc in July to pay off their DIP
Spirit is out of cash again.
The bailout is for Citadel and not Spirit.