alinta debt selling at a discount

When any companys debt sells at a discount it means one of two things.Either the seller is in the poo and there aren't many takers or the company when liquidated may not cover its debt.which has always been on the cards.
Sunway-met sold at 60% and another around 80%.Maybe its tidying up your financials and taking your hit before the June tax year.I hope so, but am naturally worried.
I note on reuters site the concensus for this years turnover has fallen another $100 million so suspect maybe trading conditions for the last few months may not have been too rosy.
Yes technically we've got 18mo finance secure,however,
that is if trading results are within 15% of projected financials.We still have $250 mill to find to ease gearing.Plus the extra carry over funding from the banking syndicate.
I'm dreaming here,but wouldn't it have been nice for alinta to pick up some of its own debt cheap.Maybe the freed up $16m from the last deal.But i suspect alinta is not in a position with any free cashflow
If full years guideance is still valid we're ok if we don't sell anything for less than its value of borrowing against it and the companies value on it.naturally selling above this will lighten the load and IMPROVE OUR EQUITY IN THE COMPANY.I would be happy to just end up owning a power retailer with no power stations.
Now if you wanted to buy into a company,then converting debt to equity(shares)if you can get the debt cheap enough may be an option.