The headlines are about new Goldman-raised funds for JCP. We know that pledging additional assets for the new loan violates covenants in some of the existing debt. So that existing debt will have to be paid off with proceeds from the new loan. Anyone have any idea how much of the new loan will have to be used that way? How much of the new loan will be left to benefit JCP for awhile?
If you're talking about the 7.125% Debentures due 2023 - it's 255 million - - - - - if you need another date let me know - - - I believe there would be overlapping collateral issues if these weren't redeemed