shares4tune, The Maquarie facility is for 3 years, however its...

shares4tune,

The Maquarie facility is for 3 years, however its purpose is solely for exploration/development under strict criteria. Not corporate issues.

tt2000,

Yes they have 4.2M Breitburn shares, however they are not listed as such & can't simply be sold tomorrow.

The company has to decide what terms it wants to offer the existing note holders before the reset date. They'll also have to decide what date to move the reset to after that!

At the same time the note holders are going to have to make a judgement as to what they want to do also. If half the note holders decide to cash-in, the company has no $$$ left.

Its a real game of cat & mouse, if the company is confident it can get the money before 30th October it will make the notes very unattractive to the owners, so it can get them out of circulation especially as the directors don't own any of them.

LOTM