bnb secures $200m temporary lifeline, page-10

Thanks heaps Stocks...thats bloody good news.

Folks....we are on. Some are holding...some are buying....some are going to be dumping (hopefully)....but this could be a good opportunity...or as a minimum to watch.

Its a far cry from a CNP waiting for Dec 15th to see if they get an extension...or an MFS that went into a suspension and sits there 11 months later.

A 25 strong team of banks who have accountants, lawyers managers etc going over every BNB situaiton with a microscope believe its not just ok to relist but to throw another $200 million in the BNB bank acocunt....thats huge for me...especially in a credit crisis.

Well done to the aussie 4 banks pushing this through and keeping the syndicate on track...I reckon it will pay off.

BNB wants to survive..so all they have to do is sell assets (not a bullish prices and not at firesale prices). They now have money, time and can get straight down to business.

In my mind...if they do an orderly sale of assets....I reckon the syndicate will keep behind BNB all the way and we may see a slimmed down version of the previous BNB doing quite well out there.

Cutting 59% of the work force was a good step and stopping the dividend.....now some assets need to be dumped and keep cutting costs.....kind of like starting the gym at 150kgs and aiming for 80kgs...highly possible..just some hard work.