The Importance of Leverage in Debt Management

A dividend recap is not going to deliver, you know, a great or a great fund return. I mean, this is really more of a risk mitigation downside protection. Take advantage of some cheap debt or take advantage of some overperformance. And that's when it's used best is kind of get your bait back downside protection and clear out the preferred stack and go. It shouldn't be a secret or a surprise to your management team.