I assume the $140m will save $12.6m in interest per annum.
Add to this debt reduction of $500m once FIRM approval is received which should save another $70m based on average interest of 6.88%
That equates to a $640m debt reduction. Based on guidance they are serious about debt reduction.
I believe in 2013/2014 debt will be reduced by at least $1.5b (including above) if not more.
The market should be pleased with this
Interest savings on today's announcement and Formosa will save circa $80m a year which will flow straight to the bottom line
I assume the $140m will save $12.6m in interest per annum.Add to...
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$22.41 |
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Mkt cap ! $68.99B | |||
| Open | High | Low | Value | Volume |
| $22.36 | $22.61 | $22.30 | $82.59M | 3.681M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 500 | $22.40 |
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| Price($) | Vol. | No. |
|---|---|---|
| $22.42 | 11435 | 2 |
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