Brad, it's in the announcement 27 March"In recognition of its...

Brad, it's in the announcement 27 March

"In recognition of its enhanced credit profile and business growth, Babcock & Brown has also received approval to materially lower the market capitalisation review threshold to $2.5 billion which approximates net asset backing. This threshold will be positively impacted by any subsequent issue of equity or conversion of BBIPL shares into Babcock & Brown Limited shares."


The real issue here is bbp, and the Apache explosion. take a look at bnb's ann. there appears to be uncertainty with the $2.7bn refi because of the explosion. also i don't see how they will be able to refi the corporate debt facility after an earnings downgrade. they say it will take years to fully restore the gas production.

bbp is going to get smashed when she comes back on. bnb may have to end up loaning her alot more than $200m. it looks like bbp is gone, and will take down bnb with her.