Passage: The gross proceeds from the sale of the notes, which will be due on Nov. 1, 2004, will be used to reduce existing debt and for general corporate purposes, the company said. The debt reduction is expected to save the Fort Lauderdale, Fla. home video concern about $2 million a year in interest expense.
What event has already finished? What event has begun but has not finished? What will happen in the future? What needs to happen before the existing debt can be reduced? What will happen after the sale of the notes? What is expected to happen after the sale of the notes? What happened before the company spoke? What happened after the company spoke? What needs to happen before the saving of $2 million a year in interest expense? What would happen after the saving of $2 million a year in interest expense?