That sounds about right.
As at the last HY report:
Total assets were about 8bn (excluding goodwill) and total limited recourse debt was about 5bn. That's an average gearing of 62.5% on the limited recourse debt.
If we assuming that the assets sold have average gearing, then to raise 275m to repay senior debt:
- at book value AFG has to sell 750m of assets
- at 10% under book value AFG has to sell 1bn of assets
- at 20% under book value AFG has to sell about 1.5bn of assets
Lets hope they can sell assets at least book value.
That sounds about right. As at the last HY report:Total assets...
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Last
$1.38 |
Change
0.030(2.23%) |
Mkt cap ! $372.3M | |||
| Open | High | Low | Value | Volume |
| $1.36 | $1.38 | $1.35 | $357.6K | 261.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 3094 | $1.37 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.38 | 3284 | 1 |
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| Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
| AFG (ASX) Chart |