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".
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".