I do not think they will have any issue servicing debt, the only debt they have is this Senior unsecured notes of $175M. This $175M is possibly two good quarters of profit. It is not maturing until April 2024 so they will make that and pay a growing dividend.
You have to remember although NPI pricing has come off a little it has not fallen over they will make the same or more this second half of year without a unforseen disaster.
As I read the annoucemnet they did not want to fill the $350M as they had no need to borrow that much, they have the cash or will generate the cash between now and settlement.
Great over reaction, however I do see the share price as currently fair at least until the next quarter announcement or full year announcement.
Ann: Completion of US$175M Offer of 6.5% Senior Unsecured Notes, page-5
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Last
91.0¢ |
Change
0.015(1.68%) |
Mkt cap ! $3.903B | |||
| Open | High | Low | Value | Volume |
| 90.0¢ | 92.0¢ | 89.3¢ | $5.583M | 6.145M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10410 | 91.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 91.5¢ | 87257 | 5 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| NIC (ASX) Chart |