MCG macquarie communications infrastructure group

Ann: BA Confirms $250m Bond Refinance , page-2

  1. Succession
    581 Posts.
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    17/02/09
    12:35
    Post #: 4804400
    Macq Comm Infra Group (MCG AU, price $0.84) Outperform

    Transmission is steady over debt refi.
    • Broadcast Australia, 100% owned by MCG, announces the refinancing of $250m MTN bonds back into the bank market with a maturity of Jan 2012.
    • We have revised cash earnings up approximately 3.4%.
    • We believe MCG is undervalued. Our target price is $3.30 (and we estimate an internal management NAV at $5.20.5.70 per share). Outperform
    MCG Price at posting: 83.0¢ Sentiment: ST Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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