I am new to this stock so apologies if I am off the mark.
I presume there is real concern about breaching covenants given the impact of redemptions on fees. (Good news is that impact on revenue will be delayed by freezes on redemptions).
However, I suspect the ultimate issue is around the refinancing of the USD debt facility in 2010. It does not appear to be financially hedged so the fall in the AUD has swelled the size of the refinancing challenge. The economic hedge is no longer effective either as the market value of the US acquisition would have fallen dramatically as per all financials, IMO.
Having said that, they certainly have good interest coverage and they have performed well in a difficult environment.
what to make of this stock, page-63
Add NGI (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$2.04 |
Change
0.000(0.00%) |
Mkt cap ! $984.6M | |||
| Open | High | Low | Value | Volume |
| $2.02 | $2.04 | $2.01 | $55.01K | 27.25K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 3550 | $2.02 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.04 | 5625 | 7 |
View Market Depth
| Last trade - 11.24am 24/06/2024 (20 minute delay) ? |
| NGI (ASX) Chart |