I've just been looking at HVN's balance sheet for 2008. Current Liabilities includes an amount of $416.58 m which (according to note 17 on page 82) includes a 'Commercial Backed Securities facilty' of $212.58 m which expires on 19 May 2009.
Does this mean that HVN will need to find this cash before May? If so, can anyone suggest how they might settle it (cash was only $65 m as at end of June)?
I'm not an accountant so any help would be greatly appreciated!
I've just been looking at HVN's balance sheet for 2008. Current...
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