The business is generating around $23.4 million in EBITDA after this latest announcement. They are required to repay $10 million per year to the banks. They need to continue to invest in their equipment in order to maintain their business - approx $3.5 mil per year. This leaves $9.9 million to cover the interest bill of around $8 million.
If they took another $3.5 million hit, they would not be able to cover their interest costs & meet debt repayment obligations.
VEI are walking a very fine line, they are certainly not covering their interest bill multiple times over.
The business is generating around $23.4 million in EBITDA after...
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