Sellers have disappeared. I believe this will make a big push beyond 60 in the coming few weeks.
During the teleconf the CFO mentioned that current bank debt for 450mil-ish (outstanding face value of MXUPA) is 300-400 over BBSW.
After step-up, MXUPA will be paying 390 over BBSW - along with the associated savings in overheads (boards costs / customer relations headcount / financial reporting / audits) and cost of reputational risk by not redeeming... it highly likely than MXUPA will be redeemed (providing the world does not enter double dip recession)
MXG Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
