financingI would b a hipocryte to disagree. This is exactly what I have been calling 4.
Do a larger bond sooner for less cost. They can not force the redemption until june I believe. But getting it done and closed by may is proper. Tko did get much higher credit rating a year ago. Interest rates for cash in the bank is 0 or less around the world.
So I will say they get the cash for 4%. This will give them 100 million cads with 100 million available from the bank end of q1. That leaves them needing 100 million. Wait until end of q3 or jv. Tko could need 50 million for np soon.
So I will say 100 million for 10% of florence.
The currend note holders will want to participate for there 250 million. That leaves 75 million new money. My guess is that a lot will b raised by selling tko shares for a nice profit. That is happening as I type. I guess that it will level at 1.25 cad. Time to buy some shares back maybe.
Second cup of malasion dark to contemplate.
This helped restore my trust.
nf