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debt maturity schedule
Mubala67 - why is that important? For example, if Stericycle has a $1.0B senior credit facility maturing in September of 2016, and they also have $100.0M private placement notes maturing in April of 2017, what does that mean? Why is that important?
it means in 2016 they will have to pay back the 1bn or refinance it. important because this is how companies go bankrupt - if business declines and cannot pay back or refinance
Mubala67 - thank you. appreciated.
It means the opposite of what Mubala said. A credit facility (particularly an unfunded facility) is a positive from a liquidity perspective - because it is liquidity on demand. That basically says they can borrow up to $1Bn in cash when shit hits the fan - which will hopefully be enough to keep paying the utility bills, paying the vendors, and paying the employees. These credit facilities have saved many companies who were approaching distressed situations in the past.
I would go read more about credit facilities. Every real company has one.
Not necessarily true. Senior credit facilities encompass many types of debt including revolvers, TL's and LOC's. A revolving credit facility (revolver) will have the funded/unfunded component and the corresponding costs and liquidity implications. Term loans are differentiated by the market that the loans will be sold to. Term loan A's are bank loans and term loan B's are sold to institutional investors. There can then be other layers of loans put into the facilities depending on the existing cap structure, use of proceeds, etc.
yeah its $600mm drawn
i dont disagree with you crie just looking at it from other side
Interesting. Okay, makes sense. Do you know of any good books to read on debt in general that should give me a more comprehensive understanding of this stuff i'm going to continually see on these 10-ks and 10-qs?
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