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16:54
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Originally posted by Engebretsen:
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Unfortunately, that is not how it works. The issue with the business is that the existing debt costs already cannot be serviced by the cashflow from the current business, and sp there is too much debt in the capital structure. For Brookfield to try and offer debt, you'd have to get all the other debt holders to either (a) agree or (b) have this new debt be subordinate to their claim, given the current circumstances. With existing debt being offered to the market at 50c in the dollar, the existing debt holders are already expecting to lose 30-50% of their capital. The only way is to put this into administration and go through a formal process. It seems Healthscope has been left with enough cash so that the operations can continue during administration, but the process will be long and may mean winding up/carving unprofitable hospitals through this process.
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You talking to Tarvold ?? then the guy is talking about quick smooth process for more then 6 months...! His mate noomxx hiding in the bushes !
(20min delay)