SWM launches rights offer, Aussie bankers expect more
Seven West Media has launched a A$438.5m ($448.4m) entitlement offer, becoming the second Australian media company in the last three months to turn to existing equity investors for cash.
The companys announcement on Monday did not come as a huge surprise to many in the market, said bankers, since Seven West has around A$1.44bn of net debt and has downgraded its earnings forecast for 2012. And local ECM bankers think more could still follow.
Any company in
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