TSX:CUS.DB.D - Post by User
Comment by
cobwebson Feb 14, 2016 11:06am
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Post# 24557396
RE:RE:RE:RE:Con Sub Deb
RE:RE:RE:RE:Con Sub Debdudsywow wrote: Kherson wrote: The market is concerned that Canexus may go bankrupt before the transaction is completed! It looks to me that the company is getting extremely close to their borrowing limit of $400 million!
As of September 30th they had net debt of $303 million. But since then they have incurred another $60 million of debt to pay off the maturing debenture, which leaves them with about $37 million of available credit. Their 3rd Quarter loss was $17 million so I will assume that it will be about the same for the 4th Quarter, plus they have $56 million of Trade and Other Receivables that I feel has questionable Market Value!
If you read any of their press releases, you would know that Canexus obtained a $60 million non-revolver that they used to pay-off the debenture on Dec 31, 2015. This revolver is not part of the $400 million credit facility.
https://canexus.mwnewsroom.com/Files/8f/8f98f2aa-7037-43c0-9ae0-975187308318.pdf
Also, if you look at their Q3 results, they generated over $26 million in cash from Operating Activities in the quarter. They are not going bankrupt before the deal with Superior closes.
Why are you spinning these lies?
This Kherson donkey is probably paid to post his lies, every company he pumps files for chapter 11