Because they'll be converting that (very) short term debt into long term debt

Then it becomes a (lesser) cashflow problem of paying the coupon (interest). And hope like f**king crazy that they have ?500m in the bank when the principal is due (many years hence)

It "works" for Mafia because they earn more than enough to pay the coupon every year.

Posted By: BerlinCanary on February 23rd 2010 at 17:10:49

Message Thread

Portsmouth announce they will enter administration if no buyer is found by Friday (Other Football) - Klobo04, Feb 23, 16:30:18
- Scumbags! they should just be wound up and done with. Its beyond a joke now. (n/m) (Other Football) - NCFC4life, Feb 23, 16:35:47
  - harsh (Other Football) - Tombs, Feb 23, 17:07:45
  - They need to set up a bond issue of about ?500m or summit (n/m) (Other Football) - pants, Feb 23, 16:43:34
    - How would that solve their debt problem? (n/m) (Other Football) - Klobo04, Feb 23, 16:44:17
      - Because they'll be converting that (very) short term debt into long term debt (Other Football) - BerlinCanary, Feb 23, 17:10:49
      - Dunno, works for Mafia (Other Football) - pants, Feb 23, 16:46:07
        
        I seriously think we need to do away with clubs like that, (Other Football) - NCFC4life, Feb 23, 16:49:08
        
        A bond issue would only solve their problems in the short term (Other Football) - Klobo04, Feb 23, 16:48:33
  - Surely now they have announced that.. (Other Football) - Klobo04, Feb 23, 16:40:52

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