Further to yours and mine the half yearly financials stated $975 m in undrawn borrowings
$342m in cash $60 M in fixed deposits and $2.2 billion of total liquidity with net cash flow.
Those figures were released to the market on 27/2/2015. When Elders defaulted their market cap was less than 30% of their hybrids value. It is not unusual for a company in this position to buy back their own debt particularly at 60c inthe$ if they have free cash flow.
Would have made more sense than buying back shares as they did. I see this as a massive over reaction but have been wrong before. Bought more today.
Further to yours and mine the half yearly financials stated $975...
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