People quick question.....if the pruchase price is less than the value of debt outstanding i.e. PP = 1000, Total Net Debt = 1200, thus 200 mil (of hypothetical subordinated notes are underwater/no value) then what happens to that remaining 200 mil?
Is it just written off?
Do underwater lenders have the opportunity to rollvoer the debt?
Whats the deal?
Cheers.
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