date:May 24, 2012
City analysts Graham Jones and Damian McNeela estimated Premiers net debt to be 5.7 times earnings before interest, tax, depreciation and amortisation (EBITDA). They estimated the firm had 525M of bank fees and pension payments to make over the next five years.
Without disposals, net debt would be still be an estimated 1.1bn in 2016. Disposals are therefore essential to rehabilitate the balance sheet but, we believe, even the next four deals will leave net debt at a still high 4.6 times EBITDA