"2. I want a clear statement about our big bondholder Mt. Kellett. In December they wanted to "talk" about the conditions of the convertibles. What's happening behind the scene? Did they talk? What happens?"
This is a potentially huge unknown risk. These guys are not there for fun.
They are known to impose very restrictive conditions.
Many of the agreements put in place a situation whereby the end result is a debt for equity end game with the lender getting their hands on a large chunk of the business for peanuts. I'll you to work our what happens to the SHs.
I'd love to see the actual agreements signed with this mob.
They approached Lynas to lend them money? Right, I see, they just woke up one morning and said, there's a great company, lets go lend them a couple hundred $m at very low interest rate, because we are nice people.
Very few appear to understand this risk, present company excepted :-)
LYC Price at posting:
64.0¢ Sentiment: None Disclosure: Not Held
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