Quote:
Originally Posted by Jarden S
What if the existing shareholders don''t want to pump in another $500m? Where would Virgin get the money to cover for the next operating loss. Banks won't give them a dime it is looking very dicey for them now!!!
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They have agreed to $852m last year, no what if to contemplate, especially as that raising was completely underwritten. Non cash impairment and costs will be $400m by 2019 as a result of the restructure, and by that time they forecast $300m gain in net free cash flow savings.
Debt is down (from 7x to 4.2x in three years), they had record cash holdings of $1.5b at the end of last year and $1.3b at the end of q3 2016-17.