So big tick payments this year are (on the assumption we successfully refinance our debt):
General Capex guidence 120 1 JV contributions (QWB and GC Tower) 160 2 Austrac 150 3 4 Total 434
Proceeds from the sale of Sheraton Hotel will cover c. $175m after costs so there will be a funding gap of say $250m, which I personally dont think they will be able to reliably fund from operational FCF.
So it will end up being a debt drawdown which may be too much leverage to handle for a business generating c. $300m EBITDA. Could the funding come from another cap raise? Or share issue to the debt funder as part of the refinancing?
Thoughts on the funding gap I have outlined above appreciated
SGR Shorts Position dropping, page-66
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