if they are predicting a $330 million FY profit and have scrapped the div for the time being i think they should be able to repay the $400 million odd owed to bnb within the next 12 months.
then its a case of concentrating on the $2 billion odd longer term debt which given the profitability of the business should and assuming the credit crisis abates over the next 2-3 years - i cant see them having problems refinancing a lot further down the track.
as for selling the business, surely if parties were interested they would be buying stock on market? at 5c bbp is only worth around $35 million - amazing given the assets. i hope bbp dont sell the assets, would rather see a divorce from bnb, and a renaming of a new independent company.
im only looking at the basics, quite possibly missing other poignant fact, but great assets which make great profits - cant see this credit crisis going on forever, not much better security for banks than electricity/gas power generators.
BBP Price at posting:
5.2¢ Sentiment: None Disclosure: Not Held
