$900 million is being seek by CLL on the so call long-term secured debt financing in the high yield market. My best guess is 8%. In addition they are trying to increase their line of credit from $50 to $100 millions.

A week before the Q1 report and the $900 Million new loan news broke out I posted:

"Connacher have to get a New Financing for about $900 million ($787 + $70 + 5% transaction cost). New $900 million debt may have 10 years term at 8%. Annual interest payment would dropped from $100 million to $72 million per year improving the cash flow.

Obviously, longer term applied to the larger debt will substantially increase total interest paid on the loan. It is a nature of the refinancing"

Some posters called my numbers "imaginary". Just wonder how do they feel now.