Good work Tuart.I'm sure they also picked up at least $40M...

Good work Tuart.

I'm sure they also picked up at least $40M selling HFA and others in margin calls. This should have reduced the debt.

Have you tried working working from the debt figures in the shareholder update 23/1/2008. MFS (ex stella) starts with total debt of $782M and $34M cash as of 31/12/2008


At that date $220 is listed as short term debt and and the rest long term. However with all the cash that has come in (>$450M), the latest "Dear shareholder" letter states that MFS has repayed the great majority of short term obligations.

I'd like to know why it hasn't paid ALL the short term debt and provided a couple of hundred million warchest. Maybe it's the loans (I think to MFSNZ & MPY and maybe others) or has the some of the long term debt been reclassified or... ?