CHI - Channel Infrastructure Ltd (NZR)

[SailorRob]

I reckon the shareholders should be concerned about having such a negative presence on the payroll. Can't see it can be of any benefit.

Oh you will see alright Sport, you will see. Just keep buying the stock and relax.

[Nor]

Sounds like you're outside the tent pissing in.

[SailorRob]

Sounds like you're outside the tent pissing in.

I am shareholders friend and ally not enemy.

Everything I have said on this thread since pre Covid is of public record. Go back and have a look and see what the track record is like.

Now, of all the public companies in the world that have embarked on major capital projects and budgeted on and announced cost estimates, how many have not updated forecasts?

How many companies that said something will cost 200/250 million 18 Months ago, can still do the job for what they said. And most of them are not at the end of the world having to deal in Pacific Pesos and long freight runs with weak relationships with suppliers.

[Nor]

Shareholders friend, by encouraging them not to be?

[Charlie]

Probably need to updare the name of thread to CHI.....??

With jet fuel on the increase with return of tourism, and increasing flights , looks like this one is good to have along side AIR and THL .
I used to have these at $2.55, and back in today. I looked at is 6 months ago, and it dropped off my radar.
HEEEaps of buys v sellers at the mo,

[Nor]

Probably need to updare the name of thread to CHI.....??

With jet fuel on the increase with return of tourism, and increasing flights , looks like this one is good to have along side AIR and THL .
I used to have these at $2.55, and back in today. I looked at is 6 months ago, and it dropped off my radar.
HEEEaps of buys v sellers at the mo,

Nah keep this thread, don't want to lose all the history.

[Charlie]

Nah keep this thread, don't want to lose all the history.

Didnt think you would lose the history, just get an update on the name . No problem if you know it, but newbees wont find it . ...
Anyway, another good day. Even with all the bear news everywhere else, it still has climbed ove4 the last few months , with a small amount of volatility compared to some.

[Nor]

Didnt think you would lose the history, just get an update on the name . No problem if you know it, but newbees wont find it . ...
Anyway, another good day. Even with all the bear news everywhere else, it still has climbed ove4 the last few months , with a small amount of volatility compared to some.

I didn't think about changing the thread name even though that is what you said. Good idea though. I'm sure there is someone you could contact about it. I don't know how though as I don't use the full site and haven't had to email them since getting my email address verified and didn't save.

[percy]

I didn't think about changing the thread name even though that is what you said. Good idea though. I'm sure there is someone you could contact about it. I don't know how though as I don't use the full site and haven't had to email them since getting my email address verified and didn't save.

Send the friendly VINCE a PM.

[Sideshow Bob]

https://www.nzx.com/announcements/402188

Channel Infrastructure (CHI) is pleased to announce that it has now fully refinanced its bank debt, reducing funding costs. This, together with the successful bond issue in May 2022, diversifies funding sources, extends tenor and supports lowering Channel Infrastructure’s cost of capital to align with an infrastructure business.

Channel Infrastructure has refinanced $205 million of bank debt, achieving tenor spread across 3 to 5 years. Total available debt facilities are now $380 million with no maturities within 12 months and an average tenor of 3.6 years. The Group’s net debt as at 31 October 2022 was $230 million, resulting in total headroom of $150 million which provides sufficient capacity to fund the remainder of conversion costs and investment in private storage. It is expected that debt will peak at around $100 to $120 million above current levels in the next 12-18 months.

The refinancing programme has reduced the Company’s cost of bank debt. Financing costs are now expected at the lower end of previous guidance at c.$16 million in 2023 (previous guidance $15 million - $18 million), equivalent to an effective interest rate across all debt of 5 to 5.5%. Channel’s fixed rate bonds and interest rate swaps provide significant funding cost certainty for 2023, in a rising interest rate environment.

CEO Naomi James said “With the refinancing of our bank debt, we have lowered our cost of funding, reflecting the reset of our business model to an infrastructure company with stable earnings and cashflows.”

“We thank ANZ and BNZ for their support through our transition and welcome ASB, CCB and Westpac to our banking group. This refinancing programme has established Channel Infrastructure’s strong presence in both bank and bond markets, which will support future growth plans and provide opportunity to continue to lower the Company’s cost of capital.”

“With our funding costs largely fixed and terminal revenue indexed at PPI, we are strongly placed in the current environment to deliver strong and stable earnings and cash flow from our business, supporting a return to dividends for shareholders next year.”