If you see the repayment schedule they have 19m to pay 15...

If you see the repayment schedule they have 19m to pay 15 april

They announced a sale of a property "One riverview Square" in their 1h results, this will deliver US$49.6M in early April, net cash after paying loan off that property would be $20m circa - that takes care of April.

May is $5m payment, now considering they said operating cash flow (rent minus interest) was approx $30 for the year, this equates to $2.5m pm , therefore over the next 2 months operating cashflow will meet May payment

June willl be next test another $11.4m , that gives them 3 months to come up with this. Considering they have already been succesful with early repayment of US$15m , on a loan book of $300m they should easily be ably to induce a few takers? Even at considerable discounts

Worst case if they cant we go back to existing arrangments, now if they have alreay paid off April & May, their loan book will be $160m on $300m worth of loans, not that dire a situation and we would have to see another huge mark to market loss for CS to give margin call , and maybe renegoitiate again.

Please someone tell me what i might have missed?

I think a few Insto's are still keen on reducing exposure, so not sure we will fly too hard today but I think one more property sold or significant early repayment announcement and this will definetly fly