>Why would the bankers impose a 20% pa "restructure fee" (sounds a lot) when it is in their interest to keep BNB afloat?
Thats the point! The bankers have now clearly stated that BNB has no future beyond 2018 (and a very miserable existence up to that date).
They have planted the 20% pa compounding! (probably) BOMB ... it is ticking away ... time is not on the BNB holders side.
If the BNB management manage to wrap things up quick smart, AND do a deal that scr*ws the subordinated debt holders badly - then, there is a minor hope for the BNB ord holder.
This deal is all one way ... in the bankers favour.
BNB
babcock & brown limited
