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Yes and Yes.
How?That's $4 billion in liquidity needed through H1 '11Namely:$500m paydown 9/30$500m in H2 '10 repayments, opex and funding commitment disbursements (from CC and 10-Q)And $2.996 bln in H1 '11:March: $151m senior note maturityMarch: $500m 2nd tranche of 1st priority TLApril: $146m senior note maturityJune: $1.06 bln term loan maturityJune: $610 senior revolving credit facility maturityJune: $479m unsecured revolving credit facilityiStar has ~$530m in unrestricted cash. Where does the rest come from? There is a LARGE gap even with some asset sales and inflows from paydowns.
Actually a little more than $4bln -- that doesn't include opex in H1 '11 or any other funding commitments.