ðɪs wʌz ʌnjˈuːʒuːəl bɪkˈʌz ðə pˌiːˌaɪkˈeɪ wʌz ɹˈeɪzd baɪ ɐ nˈuːli fˈɔːɹmd hˈoʊldɪŋ kˈʌmpəni, wɪð ˈænɐlˌɪsts ænd ɪnvˈɛstɚz ɹᵻfˈɜːɹɪŋ tə ðə nˈɑːvəl stɹˈʌktʃɚɹ æz ˈeɪ "sˈuːpɚ hˈoʊld kˈoʊ pˌiːˌaɪkˈeɪ nˈoʊt" ɔːɹ "sˈuːpɚ pˌiːˌaɪkˈeɪ".
This was unusual because the PIK was raised by a newly formed holding company, with analysts and investors referring to the novel structure as a "SuperHoldCo PIK note" or "super PIK".