Now the WA government is also pressuring the lenders to reach an agreement quickly. WA Colin Barnett also mentioned to refloat alinta after recap finished over the weekend.
Sound like original shareholders/managements will be bailout but to what extent. Also how about our trust $450 milions loan?
One possible outcome is we will not get any distributions paid out like BBI at cheap discount. But in return debt to equity swap will happen at a much higher rate eg close to NTA value about 53 cents. After that share consolidation happen. Then lenders will issues $300 milions share at a deep discount.
