Keeping B&B afloat
THE Babcock & Brown pendulum is swinging back sharply towards the company, with the local banks appearing to win the argument that receivership would destroy value.
The locals want to extend another $200 million, including interest due, along with increased due diligence from the banks' adviser, McGrath Nicol.
The company is due to make a statement early next week and as things stand this
will contain some good news with at
least a temporary stay of execution.
http://www.theaustralian.news.com.au/story/0,25197,24722088-5013408,00.html
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keeping bnb afloat
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