Home > Boards > US OTC > Miscellaneous > Elah Holdings, Inc. (fka RELYQ) (ELLH)

Part 2 of my initial question.

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JACKYB86   Tuesday, 04/24/18 05:29:14 PM
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Part 2 of my initial question.

Does anyone have an understanding of what happens to the debt issue that the company was carrying? I believe there was about $350 million that was set to mature in Jan 2019.

Is all of that out there still after the restructuring? I've tried to look through the filings and I understand that the debt holders and DIP financiers are getting about half of the new equity, but has any of the debt been exchanged for equity or is there any talk of that happening?

It seems that all the value really accrues to the debt holders unless the company does an acquisition that generates earnings quickly after the deal and begins making use of the NOLs. Perhaps at that point they can roll the debt on better terms. I see financiers have guaranteed a $500mm line of credit for acquisitions. That alone (in my view) makes the equity worth holding.

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