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News: HIL Hills Ltd confirms Q3 trading results, page-10

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bensterz

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02/05/16

17:39

Post #: 17655312
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Originally posted by Ocker ↑

The fact they could only get a fully secured $15mio facility from their bankers demonstrates just how precarious their position has become. Having to resort what would no doubt be a very expensive factoring source of finance further demonstrates a lack of support from their (ex) bankers.

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Agreed. The Big 4 offer debtor factoring facilities as well so to me this announcement is confirmation the banks wanted HIL to refinance their debt to someone else (i.e. we want out).

Will be interesting to see how this plays out in the next 12-18 months.

HIL Price at posting: 22.0¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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