Ann: Refinancing Update , page-48

I dont think they will need such a big issuance.

And heres why;

With the banks willing to refinance their debt BLY will once more have time on their side. Given the high level of competence of BLY's management shown during this diffcult period, their cost cutting and asset reduction measures will mean that the next few years the company will experience good cash flow and profitability. These measures will allow BLY to pay back its debt organically without having to do such a large car raising.

IMO they will undertake a raising but nothing over 100 million and at a higher SP than it is know.