Plenty to read and digest in todays new Investor Presentation - but related to this thread is the following comment (my highlighting):
In March 2015 we announced an Unsecured Corporate Bond issue for $40m. The bond offering will increase tenure of debt maturity profile and diversify debt funding sources. The net proceeds of the offering will be used to reduce existing bank debt and for general corporate purposes.
The following assumptions have been made in the projected balance sheet for the financial year ending Dec15:
An unsecured corporate bond issue for $40m, $30m of the bond proceeds applied to current debt.
Estimated retained earnings after tax for the FY15 year of $15m to be used to reduce current debt, assuming 85% participation in the DRP.
Not clear what the other $10m is for though.....
DDR Price at posting:
$1.58 Sentiment: Hold Disclosure: Held
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(20min delay)