BBI will not be using funds to redeem BEPPA. There is no need for it so why would they do it? The assets sale proceeds will go towards reducing corporate debt or paying it out in full.
geo12ge,
9 billion doesn't look too bad when assets at book value are 12 billion. NAV at $1.23.
Infrastructure stocks usually carry a lot of debt because the assets are quality and the banks historically have lent more against those assets. Times have changed, hence the need to reduce gearing. there is nothing to panic about with BBI. Let the market push it lower. I'll just be able to buy more stock for each dollar spent.
BBI Price at posting:
5.3¢ Sentiment: LT Buy Disclosure: Held
