Hi G10, thanks for the reply. It seems to be a quiet weekend on HC this weekend - at least on the forums I check.
Without wishing to re-open the capital raising debate (which I read with interest over the last couple of weeks) my own view is that a capital raising is "a" way for BLY to reduce its debt obligations to below the levels mandated by the relevant covenants, but its not "the preferred" way, primarily because the dilution effect that would be necessary at current SP levels. Re-negotiating the debt repayment structure has to be the primary objective for BLY management, and capital raising must be a fall-back option. If BLY management have mentioned looking at a capital raising that's a bit of a worry, because it implies they may not be so confident of re-negotiating the debt repayments - I hope that's not the case. I still think the bank's will come to the party primarily because its not in their interest to BLY go down the drain with their money. We will see.
Cheers, Sharks.
BLY Price at posting:
9.7¢ Sentiment: LT Buy Disclosure: Held
