westfield bullish, page-2

Harrydent,

the last valuation provided by the company had them at a negative $2 NTA, I think. Check announcement history.

The majority of debt is due to be rolled over through this year. Check old posts but I think about 50-60% of their debt is due.

Yes the best advice, which would work well for all existing shareholders and even the company, would be to sit tight and wait for the broader fundamentals to bring back the property values, but lets be real here..........

No decent fees would be generated from this advice by any investment bank, thus lets expect them to say that shareholders will need to spin off the USA assets and dilute their holdings even further, incur some heavy tax burden.

To any of the CENTRO executives out there. You have a brilliant base of assets that have under performed on the balance sheet, you still produce plenty of cash, so just sit tight, remove the noose that is the debt for equity deal from the companies neck and then win every corporate recovery accolade there is in the market.

I took this exceprt from Rocket Science 101, I am willing and able to post this to any Centro Exec out there :)