RE:RE:No liquidity issues through till 2018Hey Lattice. although its a little unlike you to be indelicate, that was a good reply. That last note offering was Paris 1919 for Concordia. It raised US$350M for a company with a US$187 market cap. I bet all debt holders took positions, ahead of bankruptcy protection. Sachs got fees. Cinven's 7.2M shares will be worthless. The notes were Senior Secured First Lien Notes...."take all notes". Analysts who didn't get this last Thursday will get it this week. It all has an eerie feeling of the Board saying, "pull the plug please".
LaticelnExile wrote: Chindis wrote: Slide 37 of the latest investor presentation, shows that the payout for earn-outs/loan repayments, for the 9 months to March 31 2017 to be $246 million. It is only another $70 million, for the next 9 months to Dec 31 2017. 2018 is only $47 million. With the new raise of $330 million and cash in hands of $145m at June 30 2016 the cash balance is $475 million. Less the payouts to Mar 31 2017 of $246 million - remaining cash balance of $229 million at Mar 31 2017 + profits after interest generated. So no liquidity issues through 2018. Could the board be thinking of announcing a share buyback of $100million - over $40% of the current market cap. Stock price would start to recover very quickly!!!
Bottom line: if the banks are prepared to lend another $350 million, and they have access to significantly more data, CXRX is not going bankrupt anytime soon!
Dont listen to the absolute garbage posted by the bashers on here.. definitely wouldn't be sellin shares at this price.. glta longs
The banks didn't lend another $350 million you idiot. Goldman was the sole bookrunner for the notes and they sold their part of the Bridge one week before and probably got under 70 cents on the dollar. They receive $30 million for doing the first issue and that probably makes up for their losses on selling their part of the bridge which has to be paid by Oct 2017 or the interest rate goes up to 11.5%. This is an end to end in case that is clear to the rest of the market except you. Bankers give zero fucckss about you as a common shareholder.