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10:13
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Originally posted by lakota6
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BB , exactly right. It was BH's job to get the banks to amend the lending facility which he successfully did and was announced 2nd May. Many of the posters on HC were saying then that this would not happen ..90% chance of VA , certain CR etc etc. Well he managed to get all the lenders to agree to amend. I imagined it would have been like herding cats. Now 7 months later, SGH is still trading , hiring , restructuring and going about their business. A lot of white noise has happened recently , 2 of the minor lenders have on sold their debt, McN have released an earth shattering report telling everyone what we all know , AFR has selectively reported negative news and guess what the same posters that were baying about the demise of SGH 8 months ago are still yelling at the top of their lungs. I understand that SGH's plight is very serious, could be fatal , but I have heard all this before ad nauseam , yet here we are about 10 weeks from H1 results. SGH obviously needs to produce results that are positive in many ways. Can it ?
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Another thing to note is that both citi and Mcquarie have not sold all of their debt - it is only a portion of their debt which they have sold which may very well be part of covering their bases and spreading their risk scenario.
