bnbg - looking to the future..., page-17

hi boomeronrations,

yes, I would agree that the interest rate is one of the key factors affecting future performance of BNB and the future value of the shares and subordinate notes.

My understanding so far is that I don't think that the arrangement with the banks is going to "wipe out" anyone. The shareholders will still hold shares, but just in a company that at the moment is in a negative equity situation (which we already knew about). I think this is all that the announcement regarding there being "no value" for shareholders was saying. I think that that if BNB went into administration now, then BNB shareholders would get nothing and BNBG holders might get something if they were fortunate. If the senior debt can be converted into the perpetual notes, then this will improve the prospects for the future value of BNBG notes and BNB shares (long term).

StatsMan