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Bond Priority

Bond Priority

Mark thinks about the proposed $20 billion of vanilla debt and the 8% rent money for the borrow. That's $1.6 billion a year in interest costs alone, without even giving thought to paying down the loan. That's more in interest cost than they have revenues. 

Even the silly notion of taking on this much debt makes him nervous, and he is musing on how to find a way to pay less in interest. He asks, "Is there a way we could get that number down to maybe 4%?" At 4% interest, he'd be on the hook for...

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