LOL laraz,
That doesn't make any sense.
Legacy Reserves NASDAQ: LGCY has secured a simple credit facility from Blackstone.
Its not debt until the company actually borrows it. To claim that a loan, that has yet to be taken, is somehow toxic or dilutive to shareholders is laughable.
I think most people get that. Not sure why others have such a hard time with it.
Of the $300M available to Legacy from Blackstone, Legacy hasn't actually borrowed much.
If someone has a credit card with a $30,000 limit and they charge $6,000 to that card, in what world does that make them $30,000 in debt to the provider?
Are they paying interest on money they haven’t borrowed? Of course not.
Its a dumb argument to even try to have.
BTW, for those who don’t know, yet wish they could invest in Blackstone, they are a publically traded company NYSE: BX.
You’re welcome. I am always happy to help when I can.
LOL, IMO and FWIW.