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Noranda Income Fund Unit T.NIF.UN


Primary Symbol: NNDIF

Metals & Mining Industrial Metals & Minerals
Noranda Income Fund is a Canadian based income trust. The fund owns the electrolytic zinc processing facility and ancillary assets located in Salaberry-de-Valleyfield, Quebec. It produces refined zinc metal and by-products from sourced zinc concentrates. The fund's long-term objective is to maximize unitholder value and provide monthly distributions to unitholders.


OTCPK:NNDIF - Post by User

Noranda Income Fund Unit
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Comment by mtsuiton Dec 22, 2008 4:48pm
506 Views
Post# 15662504

RE: RE: RE: Good Value?

RE: RE: RE: Good Value?<< Have you looked at the 3rd quarter and 9 month results and debt.  allready reduced and debt.  due of 153Million,not 200mm >>

Balance sheet shows long term debt of $200mm at 9/30.  $153mm is the senior notes due 12/10 and $47mm is the revolving credit facility due 05/10.

Revolver could be extended, but the notes may be a problem.  Lenders will be wary of the expiration of the XTA contract in 2017.   There's a chance the plant could be shut down at that time.  A 6% coupon doesn't pay lenders to take that risk.
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