This excerpt taken from the PONE 10-K filed Mar 17, 2005.
We must repay or refinance a significant portion of our senior debt in 2005.
In connection with the restructuring and as required by the indenture governing our outstanding 135/8% senior subordinated discount notes, we initiated a change of control repurchase offer at 101% for our approximately $29.9 million of outstanding 135/8% senior subordinated discount notes due June 2005. We completed the repurchase of all of these notes on March 11, 2005. In addition, the remaining balance of the Quadrangle credit facility and the outstanding 73/8% senior unsecured notes are due on August 15, 2005. Failure to repay or refinance these obligations when due would have a material adverse impact on our financial position, results of operations and liquidity.