Wrong again laraz,
Its not debt until the company actually borrows it.
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 in a credit facility, 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?
It doesn't. Its a dumb argument to even try to have.
Hope that clears up any confusion.
GLTU, IMO and FWIW.