extension to Dec15 No increased debt charges on existing debt - banks could so easily have stung CNP additional liquidity facility being negotiated (taking out West LB) No SPECIFIC details about West LB holdign things up Committment to raise equity/re-structure balance sheet - ie reduce debt but in a sensible way - and indications this process is underway...
-ve intercreditor agreements still to be finalised - these can be tiresome and detail oriented beyond belief punative interest rates for default - but these are fairly typical in banking docs.... extensions subject to lots of conditions, workable but still there...
On balance there are some risks associated with the deal but these are manageable risks and NOT indicative of distressed position.
On balance a good ann, which proves adminstrator is far from the door.
Please DYOR
Good luck all - here's to a green day tomorrow
CNP Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
