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# Crosstex Energy, Inc. Message Board

• gogomets13 gogomets13 Jan 8, 2010 10:59 AM Flag

## Motley Fool Post Today

Clearly bashing Crosstex to pump Chesapeake. This guy should be reported for clearly manipulating stock prices by supplying incorrect information. Stating we still have 1.1B in debt. A monkey could have found the correct information in less than five minutes.

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• If it's not 1.1B in debt, what's the correct number?

Just wondering.

• 3 Replies to inaka99
• Just looked it up. This is as of October 1, after the \$258M paydown:

Bank loan, at 6.75%...........\$503M
Sr. Notes, at 10.5%..............324M
Total .............................\$827M

The \$125M they'll receive from Blackstone must also be used to reduce that balance per their loan agreement.

• Balance as of 9/30 was \$1,064K in LT Debt and \$138 in other LT liabilities. Then on 10/1 they got in \$240M from the sale of gas processing plants and another \$40M after that. Do the math and the total should now be less than \$1B. But the real improvement is from where we were last year this time. As of 12/31/08 LT Debt was \$1,254M and Other LT Liabilities were \$652M. That's the debt levels that made people question whether or not they would survive.

Here's where the \$125M preferred offering shines. As of 9/30 the debt to equity ratio was \$1,202M divided by \$763 equity or 1.58. NOw after all transactions are factored in we have total debt of \$1202 minus 240 minus 40 or \$922 divided by equity of 763 plus 125 or 888. The numerator is now 922 and the denominator is now 888; therefore the ratio has dropped to 1.04, a level that would be much more palatable to a banker.

All pro-rata numbers are obviously estimates.

• Amen! Outrageous lack of DD.

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