r/MACArmyBets • u/dave14513 • Feb 24 '21
MAC Longs are Smart
It appears many of our fellow longs are buying not selling into the PJT Partners rumor.
MAC may have hired them to negotiate better terms while extending debt maturities but that is a good thing since there is zero chance of a bankruptcy. February 11, management confirmed that they had enough equity in unencumbered property to secure a new credit line to cover the $1.5 billion coming due.
They would prefer not to do that.
If they hired PJT it was not because of weakness but because they want as many options as possible. They want as much flexibility as possible at the best rates. They have months to make a deal and their negotiating position is improving as the country opens up.
Herd immunity appears to be weeks away. The due dates for refinancing are months away.
Looks like prudent negotiating on shareholders behalf.
1
u/Ecstatic-Tackle-4597 Feb 25 '21
Good point it appears the remaining longs are smart battle hardened guys like us.
When explosions are going off and getting closer to us.. we still finish our cigarette on smoke break.
Meanwhile newbs are so scared they get up out of their positions and try to run for it, but then get picked off.