Originally Posted by
wheels_down
The affinity thing was all just like one of those pay day loans. They needed the cash to pay bonds, and are now paying it back at what 50% interest.
Its like maxing out out all off your credit cards and bank account with a bill due before the next pay check.
Was an act of desperation. Cost them 350 million.
calculated over 5.5 years it’s actually closer to 16% annual compound interest. Not ideal but as said previously they needed cash. When they’re probably paying 5-8% normally it’s hardly doomsday.