Senior Bank Debt $150.5million
Finance Leases $37.3million
Sub Cap Notes (inc interest accrued) $111.5million
Do not consider my postings as investment advice. I am here to share research and to speculate on what might be. The boundary between fact and conjecture might not always be clear - best to treat all comments as speculation.
this sounds like one hell of a debt compared to other companies that have gone bust with a lot less do you think they can handle such a massive debt ????????
this sounds like one hell of a debt compared to other companies that have gone bust with a lot less do you think they can handle such a massive debt ????????
Do you know what the revenue is?
Shareholders funds?
Assets?
Pretty much a balance sheet and a cashflow statement is what is needed to make any kind of statement.
Do not consider my postings as investment advice. I am here to share research and to speculate on what might be. The boundary between fact and conjecture might not always be clear - best to treat all comments as speculation.
this sounds like one hell of a debt compared to other companies that have gone bust with a lot less do you think they can handle such a massive debt ????????
It all depends (of course).
$1 might be enough debt to make a company fail - if it cannot pay when due.
On the other hand, $1b might be more than manageable. It all depends on cash flow and the due dates / profiles of the amounts owed.
In what way are you comparing, and with which other companies?
Post your analysis, and we can discuss, pull apart, improve, and salute as appropriate!
See the F&P discussion on the NZDX board or the recent analysis by Enumerate on the SCF discussion examples of some great pieces of analysis ;-)
The bank debt is located upstream from BSPG but is required to be serviced by BSPG by way of upstream gtees and a bank cash sweep. this means that the BPSPG accounts do not fairly reflect the actual indebtedness but the good news is that free cashflow appears to be applied to prior ranking bank debt which relieves the position of the capital notes.
Did you see the Hold Co debt reporting in the Analyst presentation?
Disc I have quite a few of these but buying sub debt at times of distress I have found so far profitable (Exception BNBG)
Have you kept up with the news on the BNBG?
Do not consider my postings as investment advice. I am here to share research and to speculate on what might be. The boundary between fact and conjecture might not always be clear - best to treat all comments as speculation.
Enumerate if you mean the Feb 2010 preso I have seen it.
From page 13 I calculate Ebitda/interest is 1.38 times. Not IG but satisfactory. Senior cash interest coverage is 2.19 times.
Senior leverage needs to be below 3 X for interest to be paid on CNs. They declared it was at 3.53 times as at Feb. I cant calculate that with senior debt at 150M and EBItDAR at 24.4 for 6 months as at 31/12/09
Have not seen much on BNBG recently. A clear case of my greed overcomming caution
Last edited by Dubdee; 13-07-2010 at 11:13 AM.
Success is the ability to go from one failure to another with no loss of enthusiasm
From page 13 I calculate Ebitda/interest is 1.38 times. Not IG but satisfactory. Senior cash interest coverage is 2.19 times.
Senior leverage needs to be below 3 X for interest to be paid on CNs. They declared it was at 3.53 times as at Feb. I cant calculate that with senior debt at 150M and EBItDAR at 24.4 for 6 months as at 31/12/09
Interesting ... I'll check this out.
Have not seen much on BNBG recently. A clear case of my greed overcomming caution
I think it is reasonable to expect some recovery on your BNBG. The public examinations are due to begin in Sydney. Expect some comment from the Liquidator, after this, once the Australian litigation begins. The US litigation has already commenced.
Do not consider my postings as investment advice. I am here to share research and to speculate on what might be. The boundary between fact and conjecture might not always be clear - best to treat all comments as speculation.
Blue Star Print Group Ltd. reported unaudited consolidated earnings results for the six months ended December 31, 2009. For the period, the company’s revenue was $295.6 million compared with $304.6 million a year ago. Loss before income tax was $1.9 million compared with profit before income tax of $4.7 million a year ago. Loss was $1.5 million compared with profit of $3.2 million a year ago. Net cash generated from operating activities was $14.5 million compared with $23.9 million a year ago. The company reported purchases of property, plant and equipment of $1.6 million compared with $8.9 million a year ago. Capital expenditure was $1.7 million compared with $07 million for the same period a year ago.
Yields have move from 80% to 120% on some volume without disclosure or comment from company and as ususal NZX compliance asleep. I would like to think the market is informed
Success is the ability to go from one failure to another with no loss of enthusiasm
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Originally Posted by sleepdog
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