my posts seem to be posting 2 to 3 times each so probably won't be posting much more today.
exhibit g of the apa breaks down esl's allowed claims as follows"
Loan Facility Allowed Amt. owed ESL as of 10/15
IP/ground lease term loan $187,327,014
FILO facility 70,560,076
Real Estate Loan 2020 726,483,196
Second lien term loan 318,610,234
second lien LC facility 507,072,878
Second lien PIK notes 21,346,945
CITI L/C facility 108,410,464
i believe the above amounts owed esl are the balance due after applying his credit bid. want to look at that again. however, it is interesting that on january 3, 2019 esl purchased $31,887,343 of additional debt under the IP/ground lease term loan which is reflected in the above total.
again, not sure if the exhibit g numbers are what is owed esl net of the credit bid or no. those exhibit g total are around $1.9 billion versus a credit bid of $1.3 billion.
would love to see some reference to him purchasing actual shares after bk. that would cement the deal for shareholders.
i believe the apa references that esl will supply debtors with some type of direction as to how its credit bid is to be applied. have to imagine it will be in such a way as to minimize taxes and maximize tax benefits. don't believe that document is out yet so not sure i can answer your question.
