GNE - Genesis Energy

[Snoopy]

They can sell Kupe

Yes they could. It wouldn't make much sense to own it if Huntly shuts down. But who would they sell it to and for how much? Remember when NZOG sold their stake in Kupe to Genesis, then promptly bought back a stake in Kupe from the former Japanese partner at a lower price? Do you think NZOG might buy back the Kupe stake they sold to Genesis at a higher or lower price than they sold it in the first place?

and raise more debt very cheaply with a new bond issue.

Yes they could do that too. A bond issue is what Contact Energy mooted when flying a kite on the development of Tauhara. Instead Contact went for a $400m cash issue and more borrowing.

SNOOPY