If the banks allow bnb to swap its debt for equity wouldnt they beleive that bnb is still a viable company with some sort of future, or at least a company capable of working off its debt over the next x amount of years. The banks wouldnt of lent bnb a further 150 mil just to let it collapse a month or so later
The news still has yet to break and it could positive. A majority of public belived cnp was toast but its still kicking and has traded up from its 7c to 11c with fairly high volumes.
BNB
babcock & brown limited
feel sorry for all in bnb, page-16
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