WildBrain Ltd T.WILD

lol - eyewatering

[rad10]

SOFR - 5.3% plus minimum of 5.5%.........................

Almost 11% interest.  

I guess in some households payday loans are "efficient".  

I'll let the few debs I have left mature.

Congratulations all around...............  kind of.

[wagyusteak]

The ultimate goal is assets sales and they are still working on it. However, the debt is maturing soon so they need to buy themselves some time. I wouldn't be surprised if they will sell some non-core assets in Q1/Q2 2025 and reduce the debt significantly.  And btw, if you go to a bank and ask for a LOC right now, the rate is about the same... We are expecting the rate will go down soon,

[rad10]

I sold a lot at 97 cents on the dollar, and they were a great holding. Nobody is paying 11%.  A LOC is usually prime minus 0.25 this translates to under 7%.    This is a reflection upon the state of the balance sheet.  Reasons for selling the bulk were legitimate. 

[wagyusteak]

I dont think it matters much if they sell their assets in the next 3 months

[wagyusteak]

And why loc is prime -0.25? An unsecured loc is always prime + risk free

[rad10]

I guess it's because we are credit worthy.  Wildbrain is paying 11% for a secured loan!!!!!