Gidday
Further to Enumerate psts,
I've got better things to do at present than read the prospectus, they are so repetitive I'm sure they are presented in that style on purpose.
Anyway my bush commerce knowledge says that they can't just devalue our $100 debt. Shareholders can get diluted, but a debt is a debt. Are the banks writing off 50 % & then converting the rest to equity, I don't think so, I think they are converting their total debt.
I think our debt stays at face value & accrues compound interest, & no one gets any dividend ahead of us.
Recent or future market prices for debt don't (shouldn't) effect face value & accrued interest.
Rgds
BNB
babcock & brown limited
