age article re bbi, page-7

Here is some rather specific speculation from the Business Spectator...


Babcock & Brown Infrastructure

In addition to a capital raising announcement from Elders (delayed apparently because of this week's Bank Holiday in Britain), the market is expecting big news from Babcock & Brown Infrastructure today. Macquarie Capital, Credit Suisse and Gresham Partners are said to be advising BBI on a recapitalisation plan that will involve private equity giant Texas Pacific Group as a cornerstone investor. Well that’s the talk anyway. Private equity firms Kaplan Funds Management and Carlyle Group have also been speculated to be possible investors. A stake in BBI's Darylmple Bay coal terminal will also be sold as part of the deal, which will allow BBI to pay some of its $1.2 billion of debt, $500 million of which is due in six months. If BBI pulls this off it will be a coup for the debt-laden port operator.