Post sale of NZ and proceeds applied to Hybrid and Debt repayments, the broker forecasts I have seen (Morgans, JPM, UBS) are forecasting TPIs Net Debt to be sub $50m and delivering FY15F EBITDA of $310m-$320m. With expected reinstatement of Divs of +4cps pa, global peers trading on 8-10x EBITDA, and clear potential for further capital management initiatives (ie buybacks, accretive acquisitions), in my view, there is still plenty of optionality left at current share price.
Post sale of NZ and proceeds applied to Hybrid and Debt...
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