I like this - every point the interest is reduced leaves CLL with $MM8.5 net income, or a couple of pennies a share.

Of course, there are a couple of hurdles - finding a lender, and getting rid of the present lenders. However, I doubt if this announcement would be made if some preliminary work had been done to sound out the apetite of the lender for this move, as well as to identify some potential lenders.

Any offers would expire at midnight June 7, so within a month we should hear about the outcome.