[GocartMozart]

well you have to think of it this way, they can easily put the extra money in an escrow, and begin paying off principal in advance upon the early redemption date of the bonds. I'm assuming that's ten years from time, but considering they were planning on an early refinancing, it is probably less than 10. The more of the remaining 40 mill they spend on principal today, obviously means that you shave that much more off of the bonds later, particularly in interest.