looks like no interest payments on the bonds going forward based on new terms of credit agreement.
smart thing for long term viability of company would be to use the proceeds to buy back as many bonds as possible at current prices (they could eliminate all of debt).
BUT money will go to pay bank loan first.
wont happen as the bank loan will get paid off first at 100 cents on the dollar instead of buying back bonds at 10 cents on the dollar (which would be most prudent thing to do). Bank borrowing base is getting reduced, that is why asset sale.
yes, they put out a strong sell and the stock goes up quite a bit.