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Central European Distribution Corp. Message Board

  • inquirerg inquirerg Jan 16, 2013 7:15 AM Flag

    March 2013 Bonds

    As I read in a previous thread a message from Surf, I decided to do some calculations on the convertible bonds due for March 2013.
    First of all the last 10 Q form says that the Convertible Senior Notes due 2013 = 257,122, 000 or 257 mils.
    This is what they need to cover.

    Now what they could count on is:
    50 mil + 15 mil credit from Tariko. 107 mil new capital from Tariko as well.
    Ok. Now back in September CEDC repurchased $52.1 million principal. Let's say they could repurchase 50 mils again.
    Ok, rounding all down to a nicer figure it makes 50+15+105+50= 220 mils.
    So they're short on 37 mils only.
    Of course CEDC will still owe 65 mils to Tariko.

    All I wanted to show is that there are optimistic scenarios.
    Maybe not all the available amounts mentioned about will go into repurchasing the bonds, but bottom line there is hope. More than it apparently looks.

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