MBN 0.00% 8.3¢ mirabela nickel limited

Didn't you read that post? it gives you information who are...

  1. 36 Posts.
    Didn't you read that post? it gives you information who are currently the creditors, in the initial DOCA, the noteholder weren't secure creditors, they initially bought out the entire $400M+ USD debt for the $395M USD unsecured loan which they then swapped for 98.2% of the total MBN O/S, it wasn't secured. MBN had no option but to do this, they couldn't pay the interest on the loan, and they had high COP.......credit to them getting COP low to mid 4s but nickel price didn't cooperate so the mine has been in C&M for nearly 2 years.
    The major creditors who have around 160M of the total 220M are these Ad-hoc Group (excluding Lord Ablett) and they are also majority share holders who swapped the shares for debt.
 
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