IMO you don't need to look too far to who the strategic partner is outside the current banking syndicate.
Just think of the name of the company before Goodman Group.
The dividend cut and the strategic partner will enable the $460m to be paid back in full this month.
This is postive news as it says to the banks we can survive this year without you as much as you tried to screw us.... I know BNP was part of it and they are in a shocking state so want to run back with their cash.
This may have to be repeated again next year when the next one is due unless markets improve.
I had a meeting yesterday with a major European insurance company and they were talking 50% plus increases in premiums for clients in Australia even if you have a good or no claims history. Everyone is being screwed because they can do it to us.
GMG Price at posting:
36.3¢ Sentiment: LT Buy Disclosure: Held
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