Before each board meeting they have to sit down with the lawyers to make sure they're not trading while insolvent.
Off the top of my head there are around 300M of notes out with about 10% interest at face which is 30M a year or 15M in November.
They might really need that 15M and there is almost no cost to taking it from AFGHA holders. It doesn't matter what they do to AFGHA holder now, it's not like they'll issue more notes in medium term. No one else is going to lend Allco 30M over the next 7 months at only 10% interst. Especially not with only subordinated security.
From memory they have until 3 days after the payment is due to announce if they'll delay it.
It seems irresponsible to pay it.
Now, what really matters is whether or not you're getting value at $13. I think you are.
AFG Price at posting:
22.5¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)