Hi
I feel people should disregard the last sale price as a benchmark, it is only a reflection of what could be classed as flakey sellers, or astute sellers. The last few thousand dollars worth of trades of debt of about $300,000,000 shouldn't be taken as "The Value". Value is a matter of perception.. What is the inflow of management fees to B&B worth in the short term & the long term? If us noteholders don't get our money there will be no management fee inflow to B&B, some of these contracts are for 25 years, clipping the tickets of infrastructure.
look to VWAP of debt prices over 12 months, or maybe waive the last interest payment... someone said i was belligerent, must have been a bwanker.
Best wishes
BNB
babcock & brown limited
