Unsecured Notes -- the terms of the $ 75.0 million of unsecured notes that MCG had issued in 2007 and 2005 were amended . In connection with these amendments , MCG and the noteholders agreed to a number of modifications to the terms of the notes , including certain financial covenants . The minimum asset coverage ratio that MCG is required to maintain has been lowered from 200 % to 180 % . The minimum consolidated stockholders equity requirement was reduced from $ 642.9 million prior to December 31 , 2008 to $ 500.0 million effective as of and after December 31 , 2008 . The cross-default provisions were modified so that defaults of indebtedness by certain direct and indirect subsidiaries , including Solutions Capital I , L.P. and the special purpose subsidiaries relating to the 2006-1 term securitization and the MCG secured warehouse credit facility , would not constitute defaults under the notes , as long as MCG ( the parent company ) or any other subsidiary that is not a non-recourse financing subsidiary is not liable for the repayment of such indebtedness . The interest rate for the $ 50.0 million in Series 2005-A Notes due October 11 , 2010 increased from 6.73 % to 8.98 % . The interest rate for the $ 25.0 million in Series 2007-A Notes due October 3 , 2012 increased from 6.71 % to 8.96 % . Consistent with MCG 's strategic plan to selectively monetize assets and deleverage its balance sheet , the amendments require the Company to offer to repurchase the notes with a portion of certain monetization proceeds at a purchase price of 102 % of the principal amount to be purchased . Until such time as the SunTrust revolving line of credit is paid off , which is expected to be in May 2009 , 60 % of the cash net proceeds of any sale of unencumbered assets by the Company will be contractually required to reduce amounts outstanding under the unsecured notes and the revolving line of credit on a pro rata basis , based on then outstanding amounts .