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REDDY ICE HLDGS INC Message Board

  • sebbiwolf100 sebbiwolf100 Apr 4, 2012 10:01 AM Flag

    numbers

    the compnay generates ABT 48 MILL last year ebita..they pay abt 56 mill in interest on debt...refied 270 mill in bonds 2 years ago that was paying a mere 2% interest for new bonds paying 13.25%.. interesting,,,,now they are out of cash completely and have paid a bank a 2 mill dollr fee for a much needed credit line of 8 mill...and they are pledging real estate for the loan.. re that belongs to the company and its bond holders...they are gona wipe out share holders..even if they dont its worthless if they do a reorg of debt just with note holders,,,only way they can stay afloat is a 50 to 60 percent haircut for bond holders..whixh in turn cuts interest down to say 25 to 30 mill a year.. leaving then at the current rev numbers abt 20 mill to play with,,but with sagging rev n earnings again and again dont see how they can continue...they would need a big jump in both those catagories to be able to get this thing out of the trash,,,they just dont have the cash flow...

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