The capital raising is likely to be made after full year results (july/august) (if the accoutns are positive SP is $1, easy to raise 100mil in equity).
They are not stupid enough to do CR before full year financials are announced. For two reasons:
1. Bigger dilution on holders.
2. Would not be taken up by anyone anyway.
Doing a CR based on good financials would easily spike this baby and create enough interest for CR.
Process goes something like this:
1. Banks announce they support SGH in the restructuring.
2. Share price rallies.
3. Financials are published. The results are looking good.
4. Share price rallies.
5. Credit Raising done.
6. Debt repaid in early 2017 using proceeds from financials + credit raising.
