TGA
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0.00% $1.17 thorn group limited

Ann: Institutional Entitlement Offer and business update, page-44

  1. swc
    69 Posts.
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    23/09/19
    17:06
    Post #: 40531465
    Confirm the warehouse debt is NON recourse to Thorn .

    The debt is advanced by a Bank ( Westpac ) and a mezzanine financier.
    They are responsible for the debt.

    Thorn puts in 8% of the value of the trust in subordinated notes.
    Maximum amount that TGA can lose in the warehouse trust is the subordinated notes ( $24 m at 31/3/2019 )

    The only debt Thorn is responsible for is the corporate debt ( outside warehouse trust ) equal to $15.0m at 31/3/2019.







    TGA Price at posting: 24.0¢ Sentiment: Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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