Hey guys, I hate to be the bearer of bad news but you better learn to read the financial statements; the total debt is actually $192 million and the payment requirements are clearly shown on page 19 of 35 on the last Financial Statement from November 2014. They need to pay $18,483,000 in less than on year and $242,641,000 in 1-3 years (total P&I payments equals: $261,124,000; all due in 1-3 years!!!).
Banro Corporation
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the three and nine month periods ended September 30, 2014
(Expressed in thousands of U.S. dollars, except per share amounts) (unaudited)
Offering Facility Total
$ $ $
Balance at January 1, 2013 154,685 - 154,685
Accretion 3,914 - 3,914
Balance at December 31, 2013 158,599 - 158,599
Debt Issued - 29,460 29,460
Accretion and Capitalized Interest 3,342 678 4,020
Balance at September 30, 2014 161,941 30,138 192,079
The table below details the timing of payments for principal and interest on the long-term debt:
Payments due by period
Less than one One to three Three to After four
Total year years four years years
Offering debt $ 175,000 $ - $ 175,000 $ - $ -
Offering debt interest 43,750 17,500 26,250 - -
Facility debt 30,700 - 30,700 - -
Facility debt interest 11,674 983 10,691 - -
DISCLAIMER: IF I AM POSTING ON THIS BOARD I AM LONG THE STOCK.
