MCS
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0.00% 2.5¢ mcaleese limited

going long, page-3

  1. 8horse
    34,336 Posts.
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    13/03/14
    19:45
    Post #: 13123402
    Constant selling probably is due to potential break of bank covenants.

    31/12/2013:
    Bank loan: $226m
    Cash: $36.6m

    Bank covenants:
    Net debt/EBITDA 2.75x
    EBITDA/net interest expense 3.0x
    Gearing ratio 55.0%

    Net debt: $190m /2.75 = $69m EBITDA is required


    MCS Price at posting: 50.0¢ Sentiment: None Disclosure: Not Held
    Likes Created with Sketch. 4  Upvote
    lightbulb Created with Sketch.  Great analysis
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