Brabus, it looks like the next debt due date is the end of 2009.
The banks took pity on BNB because the kraut banked stiffed them on the $150M cash that they were entitled to and that wasn't very nice really.
They are obviously close to achieving the sale of the second lot of European wind assets, otherwise why would the banks allow them to keep going.
If they get through the next 6 months, and come out with a reasonable reastructuring plan in Jan (which looks like it could include the bondholders having to switch bonds into shares and some sort of underwritten right issue as well - which will allow a big player in on the cheap), then once they survive someone could pounce on them, but you would rather let them do as much restructuring as you can on the backs of the current shareholders if you were a predator.
BNB
babcock & brown limited
