Thanks @8horse Have you factored in the dilution caused by the...

First 6 Last

Share
Profile

Follow
Mkr

2,156 Posts.

65

18/03/19

13:32

Post #: 37797565
Share

Originally posted by 8horse ↑

The DADI acquisition is to be completed by end of this month.
After the acquisition, my estimate of the available funding is around $235m, plus additional $60m cash from undertakings disposal of Banksmeadow facility as reported by AFR, total available funds would be around $295m. Should be enough to fund $75m buyback.

--------------------------------
BIN currently has around $140m cash with no debt.

EBITDA mid figure $94m + Patons Lane (online 1 July 2019) $20m + acquired DADI $60m = $174m (additional synergies savings of $15m could be realised)

Available debt facilities: $500m.
Plus exiting cash: $140m.
Bingo Industries could fetch between $60 million and $70 million for its big Banksmeadow collections facility in Sydney(Source: AFR): say $60m

Less: DADI acquisition $377.5m + $27m

Remaining debt facilities: $295.5m

Net debt: $204.5m

Net debt / EBITDA: 1.18

Target leverage ratio range of 1.5x-2.0x net debt/EBITDA
That means, net debt would be $261m - $348m
Post acquisition, they still have $143.5m to spend to reach 2x net debt/EBITDA.

The $143.5m is enough to cover $75m buyback.
In the meanwhile, they will generate free cash from their $174m EBITDA.

Expand

Thanks @8horse
Have you factored in the dilution caused by the issue of shares to our habibi Mr Malouf?

BIN Price at posting: $1.58 Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

Chaos reigns markets – so let's take stock of where we're at ahead of December

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

There are more pages in this discussion • 221 more messages in this thread...

First 6 Last

Add BIN (ASX) to my watchlist

Thanks @8horse Have you factored in the dilution caused by the...

Top Stories

Chaos reigns markets – so let's take stock of where we're at ahead of December

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up