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$17.60 credit corp group limited

Joe,I couldn't understand the rationale either. Why keep a...

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Tattiebinger

635 Posts.

54

23/02/22

17:12

Post #: 59767823
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Originally posted by JoeGambler: ↑

@Pioupiou

Ok, but CLH's debt is being forgiven. I read the CLH announcement, and nothing about massive dillution which would normally accompany a recap like this. It mentions 12m for book, then 7.5m paid back for the CCP sourced working capital facility, leaving 4.5m applied to loan balance that is to be acquired by CCP. Did CCP buy the 52m debt from lenders effectively for 4.5m???

"CreditCorp has simultaneously agreed to acquire substantially all of CLH’s outstanding senior debt – approximately A$52 million (the "Acquired Senior Debt") from the Company’s existing lenders, and has agreed to a standstill on the repayment of the Acquired Senior Debt; and

Upon completion, the proceeds of the NZ PDL Transaction will be applied to repay the Working Capital Facility in full, and in part repayment of the Senior Debt. CreditCorp will then release the Company from the remaining balance of the Acquired Senior Debt."

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Joe,I couldn't understand the rationale either. Why keep a competitor going? I suspect there's another deal in the making. I've asked a fundie I know who's into this area. See what he can find out. cheers

CCP Price at posting: $31.90 Sentiment: None Disclosure: Not Held
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(20min delay)
Last $17.60		Change 0.200(1.15%)		Mkt cap ! $1.197B

Open	High	Low	Value	Volume
$17.50	$17.65	$17.38	$1.379M	78.55K

Buyers (Bids)

No.	Vol.	Price($)
1	301	$17.54

Sellers (Offers)

Price($)	Vol.	No.
$17.67	301	1

View Market Depth

No.	Vol.	Price($)
1	301	17.540
1	301	17.520
1	30	17.400
3	109	17.000
1	300	16.910

Price($)	Vol.	No.
17.670	301	1
17.680	4701	3
17.690	789	2
17.700	1500	1
17.780	2000	1

Last trade - 16.10pm 28/10/2024 (20 minute delay)

CCP (ASX) Chart