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

NATO SOLD - Wait for it $75M

[peterm]

Enough said. What a joke.

[leo101]

that's 75m gross, i wonder what the net proceeds will be?

[pierrelebel]

Cenovus is the buyer https://www.stockhouse.com/news/press-releases/2015/06/04/cenovus-buys-rail-loading-terminal-from-canexus-for-75-million

[GoGoGoniko]

why would they sell at such a depressed price? I would totally hold on this await the market to turn

[Roxy27]

Very disappointing conclusion. They took a great little chemical company that paid a good dividend and sustainable debt leverage of 3X and turned it into a near 5x leverage stressed entity. Back of knapkin: pre-NATO EBITDA was $125 million 8X valuation equates to $1 billion EV Less: net debt of $600 million after sale Oustanding shares are 186 million Equals $2.15 per share maximum in a perfect

[investoil9]

8 x is very generous in this environment; I'm a buyer sub $1.00; will it get there? perhaps not. It is indeed disappointing but I think if they got back to their core business things can change around. Either way, it is what it is now.