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$3.10 senex energy limited

My understanding is that EIG will provide SXY with up to $300m,...

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tone76

242 Posts.

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07/06/18

11:24

Post #: 33557065
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Originally posted by tt2000 ↑

Based on my discussions with them it will be around A$100M - A$150M debt facility.

My guess is that will be securitised against our assets. It would be used as an overdraft facility to fund

Next phase of wells and

Processing plant

With circa $230M available (including our cash), and the new cash flow the next wells would unlock, it should be sufficient to make SXY the self -sustaining cash cow we expect it to be. (Hence the term 'whole of company financing solution')

SXY have undergone a competitive process for this debt solution and are probably now assessing which is the best option (in terms of covenants and cost of debt).

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My understanding is that EIG will provide SXY with up to $300m, presumably in debt, to form the 'whole of company financing solution' cited by ID.

https://www.businessnewsaus.com.au/articles/eig-provides-millions-for-senex-surat-basin-project.html

That gives me some confidence in what ID said in February, where he ruled out a CR.
Last edited by tone76: 07/06/18

SXY Price at posting: 41.0¢ Sentiment: Buy Disclosure: Held
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1 Great analysis

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