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that only addresses one side of the story - banks/credit decision makers often use market capitalization as a factor in underwriting. The easiest example of how equity prices influence credit is NFLX - their 1st big debt raise was in 2015 (2b?) when NFLX's burned 700M in cash and was pledging to be cash flow negative for the next 3+ years. Also see all the converts that a lot of recent tech IPOs have started offering

edit: changed the unit from billions to millions.




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