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Old 11-15-2010 | 01:14 PM
  #52431  
slowplay
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Joined: Feb 2008
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Originally Posted by firstmob
Why are we issuing asset-backed bonds, when we have so much cash?
My guess is they're paying off higher interest debt early like they did with some of the secured exit financing earlier this year. They took two obligations that totaled nearly $1.4 billion and only refinanced $900 million of it...net debt reduction $500 million.