bloomberg, page-6

the recent sale of the European wind assets raised $1.2B in cash. Most of this cash went against recourse debt but the leftover was also retained somewhere and I suspect this may be where the money sitting in the Kraut bank arose from.

This was only half of their European wind assets and they did hint they were close to selling the others. Another $1.2B through the gate could end up coughing some money out the end of the process once the recourse debt on those assets is also paid off. Perhaps this will take care of the krauts as well.

If this process can be allowed to complete, then it could kick some money back into the corporate tin and allow BNB to pay down some of the corporate debt.

This is not over yet. The banks want to spin it out as long as they can to keep the asset sales reasonably orderly. If BNB can get themselves to a state where they look like they are going to survive, then the predators will come.

All very interesting. Monday will be fun......