WES 1.03% $70.92 wesfarmers limited

Ann: Half Yearly Report and Accounts , page-17

  1. 131 Posts.
    Jrowl,
    in case you havent heard there is a credit crisis going on. Even blue chip companies are affected.
    This means that debt that has to be renegotiated/extended/rolled over.. call it whatever you like, is much harder to get the banks to agree to than ever before. In a lot of cases this is just working capital. in other cases it is the left over debt from a recent aquisition. in WES cas it is both.
    Good management teams are taking pre emptive action before the matter becomes urgent and asking the non bank community to help them raise additional capital so that the banks have a much smaller amount to roll over and therefore their risk is much smaller and therefore will likely say yes to the roll over.
    If you think the above sounds fishy then you must have been asleep the past few years and missed the big acquisition that wes made when it took over coles etc
 
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