tuesday bridge club, page-3

let me get this right in my head.


1. Majority of debt rolled for 3 years - tick!
2. Approx 1b worth of convertible bond issued - 7 years and requiring shareholders approval to convert - as expected!
3. Issue 14.9% shares to banks to cover cost (instead of paying cash which seems to be seems like the banks are happy with upside potential)

Centro is now truly alive and kicking! No more risk of collapse or administration. Fx rate in our favour, low interest rate environment, most write downs already done for USA assets with Aussie assets to go. Real assets generating real income. I think we are on the way up and time to get off the deck!

Great effort by the team. In this enviornment to pull something like this off is a great effort!

Good luck to all. Will be a wide ride till at least end of the week!