is this the same company?, page-40

MikeMennell

My understanding is that corporate debt works quite differently to private debt. Correct me if I'm wrong, but by the terms of the loan, Boart is obliged to pay back the full amount of 585 million by April 2010. Usually, there are three options: 1) pay back the loan with cash 2) negotiate an extension with new terms or 3) pay back the loan with bank syndicate A with a new loan from bank syndicate B.

I only raised the issue because some were trying to argue that refinancing is 100% certain. I say it's more like 99% right now, but those odds could lower quickly if cracks appear in the financial system again.

Z