Whats the chance of FXCM getting an agreement for a loan at a more favorable rate then paying back Leucadia thereby refinancing the loan under more favorable term?
The way I would do it if I had $400 million to spare is buy $50 million in FXCM stock, then offer them a $300 million loan @ 12% per annum, pay by Leucadia and wait for the inevitable gains.
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