Balance sheet and funding
IOOF’s balance sheet remains strong with total debt facilities of $670 million. At 30 June 2020,
IOOF’s leverage ratio is estimated to be 1.3x net debt to pro forma EBITDA1 subject to finalisation
of the annual audit. This includes debt drawn for settlement of the net assets acquired upon
completion of the P&I business. This is in line with our target gearing range of 1.0-1.3x net debt
to EBITDA. Under the definitions of the debt facilities agreement, pro forma EBITDA is calculated
by including P&I ownership as if fully owned from 1 July 2019.
So are they highlighting a cap raise or placement coming??
Shorted some today as I thought the results were underwhelming, and far below expectations.
IFL Price at posting:
$5.05 Sentiment: Sell Disclosure: Held
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