bbn020 bonds being bought back again, page-22

I am not a BEPPA afficionado, and what I am about to say has been the topic of great debate on the BBI strings, but as far as I am concerned one of the core reasons why the BBI ords price is so low is that the potential dilution from the BEPPA (and the SPARCS and the BBI Networks bonds) is so massive that it is keeping the ords price artificially low.

Restructure the BEPPA (not by issuing more debt) and limit the dilution in some way, then your ords price will recover somewhat with the threat of dilution removed and you can have a crack at your capital raising. You would need some big players to come in to support the issue and it would need to be a steep issue - like a 2:1 or a 3:1 etc, but as we have seen from the AIO raising the people to underwrite these issues are out there and they have the dosh to participate.

BBI has some pretty appealing assets, especially DBCT. There will be people interesting in supporting the company at the right price to keep a hold of these assets (assuming the prices they get for DBCT are not acceptable, or they choose only to sell 49% and join it up with a rights issue).