for those so called experts in tell, please tell me a few...

for those so called experts in tell, please tell me a few things...

tell me how vpg will refinance european debt when no banks are lending? if gmg can't even refinance its debt and needs to find an asian investor, how will vpg refinance?

and if vpg is able to refinance, how will it possibly meet the interest bill when the margin shoots up to 1000 basis points? oh yeah, i forgot, this company has "100% cash backed underlying earnings of $14m per half".

what i don't understand myself is why vpg even wants to refinance its european debt when it is not due for another 3 years? why replace a 50bp margin with a 1000bp margin if you don't have to? the only reason i can give is the company knows it will breach its covenants in the next reporting period and so desperately needs to refinance before then. just like they did for the december half and negotiated an urgent refi with the aussie banks. me thinks the european banks won't be as supportive, given they are the ones that have turned their back on australia.

oh yeah, and for those who point out that the european business has been separated from the aussie business, can someone remind us how much valad paid for the european business. well, they paid mccabe $2 BILLION DOLLARS just for the for the scarbrough group, and now valad's market cap is $100m.

alot of people on this forum make me out to be a villian, but isn't the real vilian here peter hurley and the rest of the pathetic vpg management team. do you really trust a man who paid $2bn for mccabe's european business at the top of the cycle which is now next to worthless???