hisah wrote:Deadline approaches.. T - 17 days.
March 25th lights out! Globally a euro event looms. If that strikes plus TCL default those shocks will rock NSE!
TCL's default will not affect the NSE as much as you think it will.
1. We expect a default so no surprise.
2. The bondholders are not local [or so I think].
3. The bond is listed in Mauritius.
4. TCL's market cap is only 1.6bn which is what I think Safaricom makes in a month! Or what KCB/Equity make in 2 months. The market cap is smaller than Unga or Williamson.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett