RE:RE:RE:PS Another Capital Raise???SRR,
The $133M looks like it was from the September 15th news release, not something newer...
I must have mis-read, been having long days lately...
The refinance was at the "HS Orka" level; the other debt I crossed it was at the Alterra level...(the debt Magma used to purchase HS Orka).
From the February 27th news release regarding HS Orka 2016 results:
- Debt paydown: HS Orka continues to use cash from operating activities to pay down loans and borrowings, with repayments of $18.2 million in 2016 (2015: $17.5 million) and a loan balance outstanding at year-end of $59.3 million. HS Orka is currently in late stage negotiations with potential lenders for a loan to more fully accommodate working capital needs plus provide expansion capital.
https://www.alterrapower.ca/news/Press-Release/News-Releases/News-Releases-Details/2017/Alterra-Power-Announces-HS-Orkas-2016-Annual-Results/default.aspx
So, if at the end of 2016 HS Orka had 59.3M, and now has 133M in debt, something did change...the release did say the balance was at ~52M Euros
It would be great if next MD&A they map this out.
Long year, looking forward to 2018 (not writing this year off, just planning for next year),
BF
- Debt paydown: HS Orka continues to use cash from operating activities to pay down loans and borrowings, with repayments of $18.2 million in 2016 (2015: $17.5 million) and a loan balance outstanding at year-end of $59.3 million. HS Orka is currently in late stage negotiations with potential lenders for a loan to more fully accommodate working capital needs plus provide expansion capital.