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They will use the funds to pay down existing debt which was...

  1. texas5qld
    2,922 Posts.
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    05/02/08
    13:31
    Post #: 3321271
    They will use the funds to pay down existing debt which was announced in December, and they have 5 years before they have to repay the convertable notes.
    But yeah the market sure doesn't like it !

    In any case it looks like the tossers have finished spitting the dumbie !
    Valad is certainly one of the strongest listed property groups and they have a very big war chest, I think they'll go ok.
    VPG Price at posting: 0.0¢ Sentiment: Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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