Charles Taylor Group Plc V.MQL

MQL debt pro forma merger

[roscoe74]

Q1 states a $70 mm credit line while the deal NR states a $50 mm line. Q1 also states a recent development of an asset sale of $4.5 mm, directed at debt reduction and a bank debt of $50.010 mm.
AOS has $35 mm less 'transaction costs' ( read: lawyers and golden handshakes) of ~ $5 mm, leaves $30 mm.
Given this info and the pro forma debt in the NR of $16 mm, one may assume that MQL has $50 - 4.5  - 30 = $16 mm debt pro forma. A new credit line determination on Aug 31 based upon the as yet unreleased Q2 financials is assumed by MQL to result in a further reduction but still leaving adequate liquidity to execute 2016 guidance.