Agreed with everything you said except the figure of $ 20 billion. The figure of $20 billion is incorrect in so far as what they have to pay back in 12 months time. And 12 months is a long time.
Read all the posts above. WES has an additional $ 150 million dollars due for repayment by 30 June 2009. And another $2.2 billion due by December 2009.
They have plenty of time before 30 June 2009 to refinance the odd $150 million which still needs to be refinanced and I dare say that is peanuts for WES which can be paid off by operating cash flows.
WES is not like the ABC Learning Centres, OZLs and PPXs in terms of a debt position which needs to be renegotiated like yesterday. It has cash generating machines like Coles and Bunnings which pretty much will save WES's skin now that coal is doing bad.
WES Price at posting:
$16.07 Sentiment: Hold Disclosure: Held
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