Saturday, February 27, 2010

Concern when Canwest missed this interest payment, to help make this debt's notes sell at .15cents on the dollar

How could Canwest make a 30 million quarterly interest payment, that's 120 million annually, yet 8 percent debt interest on less than a billion?~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Two quotes, altered quote why. Did Canwest overstate the missed interest payment. This is thee interest payment that gave the 8% seniornotes the right to demand all their capital back. Note that Ten sale paid all outstanding interest. So this interest was paid.In March 2009, Canwest Media Inc. (“Canwest Media”) did not make an interest payment which was due on its 8% senior subordinated unsecured notes and was in default under the terms of that indenture. The guarantors of the Canwest Media debt obligations include Canwest Global, Canwest Media, Canwest Television Limited Partnership, the National Post Company and other wholly owned subsidiaries (the “Canwest Media Entities”),"In March 2009, Canwest Media did not make an interest payment of US$30.4 million which was dueon its 8% senior subordinated unsecured notes and is in default under the terms of that indenture.The guarantors under the Canwest Media debt obligations include Canwest Global, CanwestMedia, Canwest Television Limited Partnership, the National Post Company and other whollyowned subsidiaries (the “Canwest Media Entities”) but exclude Canwest (Canada) Inc., CanwestLimited Partnership and its subsidiaries including Canwest Publishing Inc., CW Investments Co.and its subsidiaries including CW Media Holdings Inc. and Ten Holdings and its subsidiaries."












'''There is no other significant CanWest acquistions.''' Plural usage misinform -- cover for the subjugation of Canada -- and the continued occupation of Canada's information disclosure matrix of those that think Canada is a colony.True cause of CanWest's financial toll. CanWest bought Canada's flagship newspapers in a vendor financing deal (semi arms length transaction, designed to fail) and now CanWest is under repo from this debt; debt had balance sheet covenants that restricted CanWest. The abnormal high interest rate of 12 1/8%interest rate; and forced putting of the Canadian dollar by the Canadian newspaper monopoly, took its toll.Name the other acquisition besides Goldman Sachs? Curious how Goldman Sachs acquisition finished CanWest as CanWest is yet to buy 2/3 of Goldman Sachs Canadian TV network; Goldman Sachs has the right to sell Atlantis TV network to CanWest, in a long term put. If not exercised, is a much smaller transaction. Define fact, that '''CanWest's agreement to give Goldman a long term put to sell this billion dollar asset to CanWest is not regular and has placed CanWest balance sheet in limbo.''''''Name the other acquisition??''' besides CanWest's one/third acquisition of Goldman Sachs' Canadian TV network.

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