>And interest is piddly, on maturity its about 20c which should be 1BBI or less.
I PREDICT ...
This "piddly" interest payment will wipe out the value in the existing equity holders stake.
However, the new owners of BBI will, in turn, be wiped out by the conversion of the EPS.
BBI is in the process of selling it's prime assets for what I imagine will be average prices. It will be left with the "dog" assets and very little room to maneuver.
There is probably some value in this "legacy" - but the central problem is "how is the death spiral to be avoided"?
/disc: some BEPPA
BBI Price at posting:
5.9¢ Sentiment: Hold Disclosure: Held
