interesting information about tse

Several (3) pieces of important information on the market about TSE:

(1) At least the directors have been buying in - although not in any big way (Approx 25,000 shares @ 9600x$10.39, 10,000x$10.12 & 5000x$10.10 since the profit warning)

(2) Also - directors holdings on margin ! Always good to know about - one wonders what price levels will breach the lending covenants - Is this what the sellers are trying to achieve??

Director Anthony Francis Shepherd
Direct holding - 826,468 shares held as security pursuant to Margin Lending Facility outlined in Appendix 3Y lodged 2-Apr-08. (TSE shares are held as security over a margin lending facility provided to Mr A Shepherd under a Commsec Margin Loan with Commonwealth Bank of Australia.)

Indirect Holding - 533,211 held by Coolidge Holdings Pty Ltd as trustee for Coolidge Holdings Trust on behalf of Anthony Francis Shepherd who is a member of the trust.
shares held as security pursuant to Margin Lending Facility (TSE shares are held as security over a margin lending facility provided to Coolidge Holdings Pty Ltd under a Commsec Margin Loan with Commonwealth Bank of Australia.)

(3) You would think that the news below would be market sensitive and require an announcement!

(Reuters)
MELBOURNE, May 22 (Reuters Basis Point) - Australia's Transfield Services Infrastructure Trust's (TSI) will increase a five-year loan to A$800 million ($769 million) from A$600 million, but faces stiffer costs due to tight market conditions, sources said.

The facility, originally put in place in 2006, will be repriced at 120 basis points (bps) over BBSY from 90 bps, the sources said.

ANZ, Calyon, Commonwealth Bank of Australia, Mizuho Corporate Bank, nabCapital, Royal Bank of Canada, Royal Bank of Scotland, WestLB and Westpac Banking Corp are the lenders.

The increase is primarily to help refinance a A$450.4 million bridging loan signed last November by ANZ and Westpac to fund TSI's acquisition of the wind farm assets of Queensland state-owned Tarong Energy Corp Ltd and Stanwell Corp Ltd.

The balance of the bridge loan has been refinanced with equity.

The original A$600 million senior financing was accompanied by up to A$100 million of subordinate debt provided by Calyon, nabCapital and RBS, the sources said.

Meanwhile, parent company Transfield Services Ltd (TSE.AX: Quote, Profile, Research) last week extended the A$250 million one-year tranche of its existing A$750 million corporate facility maturing in July 2008.

That ANZ-arranged deal, signed in July 2007, comprises one-, three- and five-year tranches of about A$250 million each.

Pricing at leverage levels of more than 2.5 times to less than three times was around 52 bp, 70 bp and 80 bp over BBSY for the one-, three- and five-year tranches, respectively.