Babcock Wins A$200 Million Reprieve From Banks, Review Reports
Email | Print | A A A
By Gemma Daley
Nov. 29 (Bloomberg) -- Babcock & Brown Ltd. is expected to win the support from its banks for up to A$200 million ($132 million) in new cash funding, the Australian Financial Review reported.
The short-term reprieve ensures the asset manager’s survival until the end of the year, the paper reported, without saying where it got the information.
Babcock, struggling under massive debt as the global credit crunch has pushed up interest costs and prompted large write downs, has secured the new funding agreement because it is close to selling some assets, the paper said
- Forums
- ASX - By Stock
- bloomberg
BNB
babcock & brown limited
Babcock Wins A$200 Million Reprieve From Banks, Review Reports...
-
- There are more pages in this discussion • 30 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)