That was probably why the CEO was let go: he panicked to offer this and actually made the situation worse. It was not a big deal until he panicked. Legally binding: true. Lender can call the loan, true. Then, go to the court. 3 years later, pay back the loan, plus the accrued interests, minus your lawyer fees and time and efforts. Contrast that with just collecting your coupon. Remember: as a lender, that is the most you can get: the coupons and pay back at the end. You will not kill the goose unless you know the goose is surely dieing. You will get less by going to court, period.
"Valeant will have very little leverage": where did you get that idea? The lender actually wouldn'the, and probably cannot, change the terms as long as VRX can pay its dues. Technical defaults happen all the time. Lender in theory can declare default and call the loan. But why would one do that if payments are coming? Making VRX to go BK is actually not in the lenders best interests. "Convenants" actually does not mean much after money changed hand. You can ask Trump if you don'the understand.
Shorts covering means the shorts, who sold before, are now buying!
Are you wondering who were selling instead? In that case, my guess is other short sellers as I expect the short interests in total to actually go up.
I knew. That's why I found it funny just think Pai find out his new boss MIGHT not like this statement of his.
I believe GSAT should donate $1M, in stocks, to a veteran non profit, in lieu of Donald's cash. Actually, make that $2M. With Donald's ack., GSAT will be $30, that will the donation actually worth $60M. Win:win:win for Donald, GSAT, and the veterans.
No bites? Wouldn't it be comical to see Pai find his policial bet was on the wrong side of his new boss? It is possible.
The Republicans will vote against this along the party line, but what makes you think Trump will be on the Republicans' side? So far, most things he said and done were against the "party establishments".
One licensed a piece of land to build houses. It turned out the land will be better used for a Trump Plaza.
What would Trump say?
He could say, if you believe his public appearance: this guy deserve to be rich!
But he could also say that it is not fair to the "public", as PaI did.
What do you think?