Global Value Investing

[throwerw]

"We did a deal last year where there was a company with $130 million of debt coming due. The company negotiated with the banks until it was a week before the debt‘s maturity and the banks rejected the company‘s proposals. The company then had a week to decide how they were going to meet that maturity. We provided them with $130 million in return for an attractive assemblage of opportunities. It wasn‘t like our deal was more or less expensive; it was the only deal on the Street."