[hogFeast]

It depends on what terms you are getting but it is important to be clear that this is a bet on the Fed not raising rates, and I would argue that you should own linkers if you want to do this bet instead.

Everything makes perfect sense when the risk-free rate is -5%. If the Fed does hike late and the risk-free rate has to move to 5% then your debt will start looking like a noose.

[giantg2]

Yeah, things can change. As a startup, I would hope the time horizon would be short enough that acquisition or profitability happens first.