Fastenyourseatbelt - but both parties will screw off existing holders and one of the bids still requires further refinancing or asset sales. Both are highly uncertain (as mentioned by BBI management).
For buyers and holders of BBI/BEPPA this is an all or nothing play and the upside is fairly limited. The funds that may save BBI/BEPPA will extract ever bit of value for themselves before anything flows to BBI holders. BEPPA are in a slightly better position but still highly uncertain in my opinion.
The other concern i would have is the debt facility that was extended until the end of Oct. What will happen in an agreement hasnt been reached by then?
Disc. I dont hold BBI/BEPPA and i will not buy back in
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