I have only logged into HC so I haven't had a chance as yet to play catch ups on any 'new news' either on HC or in the press if that's what you mean by 'new info'.
I will say that for the life of me I cannot see any way that Glenn will let Centro default, and I personally wouldn't be hitting the panic buttons just yet.
Like I mentioned a few days ago now in another post there would have to be a Plan A, B, C etc in place for Centro taking into account foreseeable problems such as WestLB.
FYI, on the 4th May [Post # 2825668] I wrote to to poster eMark:-
Either/Or it doesn't really matter because imo there is just not going to be a Plan A (ie; all the Oz connected Banks agree, including Sumitomo, WestLB etc etc). Plan A imo would be that all the Banks agree to go to September (at the very least) so then the American Banks will go to September (at the very least) also.
Now ... let's say that is Plan A!
If Plan A fails it doesn't mean that Centro fails because there is a Plan B in place, and probably a subsequent waterfalling of plans after that.
Plan B is most probably a sale of assets to cover the $200M to get the extension; so therefore if one Bank doesn't agree it could be settled by way of an asset sale or part asset + other Bank equity injection.
Following the extension there would have to be a myriad of plans:-
Plan C could be the unsecured creditors buying into a Fund;
Plan D could be a raise of equity similar to Wesfarmers;
Plan E could be a sale of the whole group ie; Centro;
or; a combination of any of the above, and other things that I haven't considered.
Emark, imo there is no Plan set in concrete which is really the 'art of negotiation'. It is a very fluid situation or a dynamic equilibrium where Uncle Glenn actually has the mandate to construct the jigsaw pieces to make the puzzle fit.
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Anyways 1ashley, I hope the above [re-post] helps out a little for now; I will post more later this morning after I have had a chance to read more!
Right, did someone say Breakfast???
Cheers, Pie :-)
CNP Price at posting:
0.0¢ Sentiment: None Disclosure: Held