I just saw this story on BNB on Bloomberg and can't figure if they are saying McGrathNicol are recommending giving more money or not
Babcock Lenders to Consider Adviser's Report, Review Says
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By Gemma Daley
Nov. 26 (Bloomberg) -- Babcock & Brown Ltd.'s syndicate of 25 lenders will today consider a report from adviser McGrathNicol, the Australian Financial Review reported.
McGrathNicol will tell the lenders, which includes Australia's four major banks, to inject more capital into the group to ensure its survival, the newspaper said, citing sources it didn't name.
The banks are unlikely to extend a lifeline to the company given German lender HypoVereinsbank has refused to release a A$140 million deposit, the Review said, citing unnamed sources.
To contact the reporter on this story: Gemma Daley in Canberra at [email protected]
Last Updated: November 25, 2008 15:36 EST
BNB
babcock & brown limited
