IMO for the near future panning out
- preference share issue This will be offered to the Shareholders and underwritten.
- The preference Shares will be paying dividends at the same rate at BEPPA.
- Payout the outstanding BEPPA payment
- Conversion of BEPPA into the preference shares.
- Finally there will be a share buyback of BBI.
There might be the opportunity for the Banks to convert debt into Preference shares.
The Interest saved and income generated will pay the dividends on the Preference Shares.
The win here (for the banks) is with the share buy back BNB will get an increasing value to pay back it's debt.
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