Geez they're a generous bunch Transamine ... some would have us believe that they're going to fork out $50mil at 10% unsecured.
I think not!
The clear message from the interviews was that the proposed Transamine debt, the subordniated debt, was extremely difficult to arrange and hats off to Baz should this eventuate. Transamine, being the kind hearted souls that they are would know they've got a heck of lot of leverage in their negotiations with CYM but have decided not to push this point ... great!
"here's $50mil so that you can get kick-started on your $200mil senior debt, but hey we don't want anything more than commercial rates, we'll ride the risk with you"
Freebies coming up
CYM Price at posting:
10.5¢ Sentiment: None Disclosure: Held
