Dell Technologies intends to use the dividend proceeds to finance the cash consideration paid to Class V stockholders, with remaining cash proceeds, if any, being used to fund future share repurchases or debt pay-down
. Dell Technologies is experiencing strong positive momentum across its businesses after a period of strong revenue growth, earnings, cash flow and accelerated debt pay-down
Under the terms of notes extension transaction, the company has agreed to pay Whitebox 15% of the net proceeds from its next underwritten public offering completed prior to 23 June 2017 as well as to reduce the then-outstanding principal of the 2017 notes, which would be in addition to the USD8m pay-down
of the 2017.
Following that 10 years was a 15- or 20-year pay-down period when the borrower must pay back the line of credit line's amortized principal and interest.
According to the Chicago-based firm's data, $438 billion in HELOCs had not yet reached the end of their draw period and entered their pay-down period as of the end of December 2013.
Subject to the terms of the agreement, the members of the ad hoc committee have undertaken to vote in favour of the transaction There has been reduction in the company's outstanding debt from $1 billion to $850 million via $70m cash pay-down
and cancellation of another $80 million of the existing sukuk already owned by the company It said that the remaining $850 million has been split into two tranches to ensure potential dilution for shareholders remains substantially similar to current levels -- a $425 million ordinary sukuk and $425 million convertible sukuk (together the new sukuks), each with 5-year maturity to ensure long-term financing.
We paid down our banking credit facilities by $7.1 million and reduced our annualized interest expense on the related debt pay-down
by approximately $400,000."
Brenner recommended the pay-down
option, arguing that the town will save $750,000 by paying down debt, rather than giving taxpayers a one-time break on their taxes.
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Then, in a highly atypical maneuver, we shifted the balance of the $8 million necessary for the pay-down
to the 201 resident shareholders in the form of a second loan on their shares at a favorable interest rate.
Moreover, there is nothing worse than agreeing to provide a quick pay-down
, only to default on that new promise.
Having a clear understanding of the co-op's financial position, NCB recast the co-op's debt as follows: the first mortgage was increased to $1.3 million, and the second mortgage, increased to $300,000, was put on an accelerated amortization schedule to enable a faster pay-down
of principal and subsequent reduction in the total debt load on the co-op.