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Originally Posted by GioforPM
I suspect that’s unsecured bond debt. It’s not borrowing against assets like you are imagining.
Anyway, there’s no way Murray Edwards has pledged shares in CSEC (or any other companies) as collateral.
EDIT: Just looked at the notes. It’s all long term unsecured debt, meaning no assets were leveraged. (Note 8)
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Borrowing is borrowing. If it doesn’t get paid back the assets will eventually get seized. Make no mistake the company is levered.