Banro Corp. fka BAA

[baystock1]

Not sure, but I think legally it is up to to the majority of note holders to extend or not. But Banro may be able to induce them to extend by a year or so by throwing in some free warrants. They can also force the company to have their notes converted into 90-95% stake in the company. I think Baiyin with their 20% stake in the notes would probably be willing to extend. I also think the original note holders would also go along with an extension. But vulture bond investors if they were able to buy the notes at distressed prices would probably want to trigger a "default" and force a conversion to equity at these cheap prices so that they can reap significant capital gains. I don't know what proportion of the 80% of notes not owned by Baiyin are still owned by the original investors. I also don't know what the probabilities are for an unfavorable outcome VS. a favorable restructuring/refinancing outcome. But with Baiyin/Gramercy/Blackrock as big shareholders/stakeholders of the company, I don't think the outlook is as bleak as the share price would suggest...

What's the chance D-day could get extended a year or two if new, different financing doesn't happen ?