Yep. very serious. The Incident in Norway shortly after the...

Yep. very serious.

The Incident in Norway shortly after the furnace reline was certainly a set back. Not being able to display a full years history as an operating business is certainly a drawback but may not be a complete deal breaker.

The covenants and preconditions may however make it less attractive than whats on offer from the bond market at higher interest.

Eramet might still pop with a buy out. They could fund the bond redemption within their current limits.

Peanuts to them.

IMHO The rights issue would have been a total flop unless the underwriters were fully confident and able to give refinance comfort to the underwriters

Maybe time to stop sniping and buy a few shares.