Showing posts with label capital structure. Show all posts
Showing posts with label capital structure. Show all posts
Friday, August 22, 2008
Macquarie Airports - buyback
Buybacks as a means of capital structure management: Macquaire Airports announce a buyback in conjunction with asset sales. Note that MAP's 'preferred (earnings) measure is "proportionate earnings before interest, tax, depreciation and amortisation".
Friday, July 25, 2008
Rights issues - disappearing?
Possibly, according to Bryan Frith in The Australian. They are being replaced by "accelerated renounceable entitlement offers". Primarily it seems to reduce the risk faced by underwriters.
Labels:
capital raising,
capital structure,
rights issues
Tuesday, April 22, 2008
"Re-equitisation"
Jeebus. Apparently that's what they're calling the process of getting more equity onto the balance sheet. That's what happens when debt falls out of favour. Which is currently is. See Michael Sainsbury's analysis here. In the case of Wesfarmers, getting shareholders to stump up more money to pay back the loans taken out for the Coles takeover.
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