tag:blogger.com,1999:blog-5124857623766724513.post5037369618486539696..comments2024-01-13T08:27:40.266+00:00Comments on Suq Al Mal: HSBC: Restrictions on Global under its RestructuringAbu 'Arqalahttp://www.blogger.com/profile/01296250358695456059noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5124857623766724513.post-25828117127586189542010-09-28T21:44:02.126+01:002010-09-28T21:44:02.126+01:00Anonymous
Actually, the Al Qabas article in quest...Anonymous<br /><br />Actually, the Al Qabas article in question merely reported what is supposed to be the HSBC report - which is largely a statement of facts.<br /><br />The negative conclusions are mine based on my own analysis of Global's business ethics (Global MENA Financial Assets and AlThuraya) and financial condition as well as the terms of the restructuring.<br /><br />On later point, you'll note that I think the restructuring terms imposed on Global by its "wise" lenders contain the seeds of future problems. The repayment period is too short. Asset values are not likely to recover in three years. So, Global will be forced to sell at low prices and in effect the lenders are liquidating much of the value in the firm when they don't have to. By placing various restrictions on Global - such as the reported requirement that any new equity be used to repay debt - as well as the too short tenor, Global's lenders have complicated the firm's ability to sell new equity. <br /><br />Your point about Al Qabas having an outlook is correct. One will find the opposite outlook over at Al Watan. It just depends on who ones patron / owner / tribe are.Abu 'Arqalahttps://www.blogger.com/profile/01296250358695456059noreply@blogger.comtag:blogger.com,1999:blog-5124857623766724513.post-67407349523108259652010-09-28T20:28:41.453+01:002010-09-28T20:28:41.453+01:00FYI Alqabas has a very strong negative bias toward...FYI Alqabas has a very strong negative bias towards Global. So the way they report the Global news is truncated and exaggerated. Go to the source.Anonymousnoreply@blogger.com