Correct. Net debt is $20M with the rest being available if required. This is from the latest results release:
"Net debt was $19.9 million at the end of the period, with available liquidity of $400 million"
Debt refinancing is also planned with the current facility not due until August 2019 so plenty of time to get this sorted. This is also a chance to get some more legroom on the covenants though borrowing costs might go up as a result. Low risk of Myer going under in the short term IMO, hence why my sentiment is a buy for short term.
MYR Price at posting:
35.5¢ Sentiment: Buy Disclosure: Held
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