CANEXUS CORP 6.5 PCT DEBS T.CUS.DB.D

Net Debt

[6milli]

What is the net debt of CUS? Please back up your calculations and analysis with facts.

[materialsgirl]

The Q3 balance sheet shows that it has about $550m in long term debt (incl debentures) and little cash so net debt changes every day and it is approx $550m,  It is listed below but when copied it does not hold the layout.  Check it out on their site LIABILITIES AND EQUITY Current Liabilities Short-Term Borrowings (Note 11) 8,163 8,820 Trade and Other Payables 118,956 120,045 Income Tax

[HAWK37]

6milli, the Net Debt was $590 Mn on Sep 30, 2014. Total Debt was $560 Mn. Using Ocean112's numbers for EBITDA ($120 Mn), Canexus ratio of Total Debt to EBITDA will be 4.7 times, which is a violation of their credit covenants (as stated in the Q3 PR). This will trigger a 'cash trap' provision in the agreement, meaning they have to cancel the dividend. These are facts. 60% of the

[Kherson]

Come Friday, Ocean112 will be gone... Kherson

[Kherson]

Posted March 11. Looks like Ocean112 has indeed disappeared. Paid pumper.

[pjn0987654321]

"Looks like Ocean112 has indeed disappeared" That's too bad.  I was wondering what he'd have to say.  All those elaborate explanations....  good for the latrine...

[BlueCollar51]

11. Long-Term Debt and Short-Term Borrowings At September 30, 2014, $257.2 million (US $225 million and CAD $5 million), (December 31, 2013 - $318 million (US $299 million and CAD $Nil)), had been drawn on the extendible revolving credit facility, in addition to swing line loans described below. On October 15, 2014, the Corporation amended and restated the extendible revolving credit facility

[ocean112]

Thanks Blue...honestly - i'm tired of trying to teach people who do not do thier homework. Hawk - you must be on my ignore list.  LT DEBT DOES NOT INCLUDE CONVERTABLE DEBT (I won't pull that out of the annual statement - I will let you do that yourself).  When you recalc your numbers - they have plenty of room in thier credit facilities.

[BlueCollar51]

From the 2013 Annual Report Consolidated Senior Debt, Consolidated Total Debt and Consolidated EBITDA are defined within the credit facility agreement. Consolidated Senior Debt is defined as the aggregate of all long-term debt of the Corporation, including the Corporation’s shortterm swing line loans, less subordinated long-term debt and intercompany subordinated long-term debt. Consolidated

[ocean112]

______ Thanks Blue.  I have to admit - I think i've put most people on ignore that you're the only one left whose posts I read.  It's unfortunate really - this board once had a ton of potential - and I learned a great deal from people on this site (Nawar, PM1231) - but it seems those folks have long abandoned this site given the quality of posts - and I think I might be doing

[Kherson]

Ocean112, you are leaving us? My understanding was that you would be sticking around until the Year End Financials were released! I guess that your pumping contract was cut short! By the way, Nawar left this site because he sold his shares long ago... Kherson

[Stockvesting]

The debt levels are getting quite high.  You never know, an annoucement of NATO being sold might happen.