Yes I think there is light at the end of the tunnel. One important point seems to be missed. The bankers are about to become major shareholders. So the last thing they want is for BNB to go into administration. The no. one thing they want is for the share price to improve. They can help by keeping BNB liquid and reducing the cost of borrowing. They might care to support the sp to maintain their equity stake. Might be worth jumping on before they report.
Also, there is nothing in today's announcement that was not said in yesterday's announcement. Here is what was said yesterday..
"Babcock & Brown notes that it has previously foreshadowed a debt for equity swap as part of any permanent capital restructuring. Any debt for equity swap or similar arrangement to allow Babcock & Brown to continue operating its business and selling assets as appropriate will significantly reduce the value of any existing equity."
BNB Price at posting:
32.5¢ Sentiment: LT Buy Disclosure: Not Held
