News
Blue Star's bondholders face a nasty choice
Monday 18th of July 2011
The NZX-listed bonds have a face value of $105 million. Since interest payments were suspended in August 2009, a further $32.3 million in interest has accrued.
The proposal they are being asked to vote for on August 10 would see the net present value of their investment reduced to $44 million, just over a third of its current face value, but that's only if everything proceeds as directors propose.
Bondholders would have to write off their $32.3 million of accrued interest immediately.
Want to read the full article?
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
Latest News
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)