the last announcement said it all....
"there will be zero equity left for shareholders"....
even noteholders looked screwed.
under a debt for equity arrangement the banks will kill existing holders...
still it will offer survival for the company and i will probably trade it bigtime but not at anything over 5cps, indeed probably much less. maybe 1-2cps.
BNB
babcock & brown limited
things will be just splufty!, page-27
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