IIF 0.00% 53.5¢ ing industrial fund

can someone please enlighten me, page-6

  1. 20 Posts.
    As I see it the risk with this stock is breaking bank covenants. Some financial commenators say that although the company has stated that it is in compliance with all lending covenants, they are:-

    "skeptical about comments like this. Lending covenants are usually assessed twice a year – generally June 30 and December 31. Companies remain in
    compliance until the next assessment"

    Other commentators have noted that the exchange rates have moved against them by 15%, again thus possibly putting them in breach of their bank covenants.

    If they are forced into significant refinancing at this time what is going to happen? ING has recently been propped up with a $10bn cash injection from the Dutch Government. Is that helpful to IIF? Do they have access to that?

    If there is a rights issue to raise funds how does that affect me as shareholder?

    But at 33c per share this seems cheap even if whatever they do reduces eps by 75%.

    My(very)limited knowledge says it's OK - just seriously oversold. But I am confused with this refinancing issue. I find it hard to believe that this can go to the wall - or even much lower than this.

    Can someone please enlighten me???

 
watchlist Created with Sketch. Add IIF (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.