CANEXUS CORP 6.5 PCT DEBS T.CUS.DB.D

Easy Question Folks?

[Kherson]

Surely someone from the Canexus Pump Gang knows what Canexus realized as net proceeds from the Blunderheim sale! I am beginning to wonder if in fact the net proceeds were zero!
I find it very odd that Canexus did not include the actual net price in their latest NR...
Kherson

[Kherson]

When you look at the bridge financing for this deal, something just doesn't seem right! Superior Plus is raising $650 million to cover the Canexus debt. On June 30th, Canexus had about $625 million of debt, then in August Canexus supposedly realized about $75 million from the Blunderheim sale, thereby dropping the net debt to say $550 million. The problem arises as I see it is that Superior

[Roxy27]

SPB is assuming $585 million in debt.  Quoted from SPB mgm't

[Kherson]

Thanks for that information Roxy27. So if Canexus has a present net debt of $585 million, but they had a debt of $625 million on June 30th, that shows that they decreased it by $40 million! The problem that I now see is what happened to the other supposedly $35 million realized from the Blunderheim sale? So the questions that now have to be asked are; 1) What amount did they in fact realize from

[pierrelebel]

"distributable cash was a negative $15 million which therefore resulted in an increase in the overall debt!"  I do not know what business scholl you went to but I suggest you contact them and ask for a refund. To arrive at such conclusion (increase in debt) shows a total lack of understanding of basic accounting.  A change in cash flow (and distributable cash) could be the

[Kherson]

Pierre, I would suggest that you read the publicly released Canexus Second Quarter Financials under the Liquidity heading on page 16.  Relevant information: "Operating activities for the three months ending June 30, 2015 resulted in a net use of cash as opposed to the generation of operating cash flow..." "Net borrowings from the Extendible Revolving Credit Facility more than

[timebuster]

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