MAH 2.27% 22.5¢ macmahon holdings limited

They need to have a fair chunk of cash for liquidity (working...

  1. 392 Posts.
    They need to have a fair chunk of cash for liquidity (working capital) to pay creditors, subbies and employees. Of course when your business shrinks substantially as has done here you need far less liquidity so you'd imagine they will pay a chunk off the gross debt from cash reserves but they will still need to keep a decent amount of cash on hand.

    Having said that they naturally de-leverage, have just received another $19m cash in the bank and also selling surplus assets. While some money will have gone out the door for redundancies and accrued entitlments, you would expect net debt will be a lot lower than $36m by 30 June.

    The key part of the statement was the last paragraph. There was no need for the company to make those statements so, while nothing is certain of course, they must feel pretty confident they will refi with the existing syndicate.
 
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