share price , page-41

guys, even if centro gets a two month extension, what then?

the banks will still expect their money back at the end of two months - and let's face it centro will not be able to raise that kind of money in two months without doing a firesale.

and let's not forget the last extension cost centro a cool $40m - which is absolutely absurd for a two month extension on $1.3bn of debt, and money that was supposed to pay our dividends.

so let's say centro does a fire-sale, raises the $4bn, and in doing so destroys alot of equity value. so what then?

the company has another $14bn of debt.

and each time some of it falls due to be refinanced are we going to go through the same process?

no refinancing, extension, big fee, firesale - until the very end

the banks need to wake up, give centro their money and a higher rate (100bp - 150bp), and let them do what they do best. there's no reason to wind up a great company.