CGG has had interest expenses of about $180M per year for the last 4 years.
They have incurred losses averaging $961M per year over the same period.
How will wiping all but $1.2B their debt and raising $500M help them survive 2018 ?
5 replies (most recent on top)
That is not good news. I thought the stocks will skyrocket after the discovery of oil slicks (sorry, I meant oil seeps) in Jamaica and I recover my losses.
Each stock worth about 2 euro Feb 1. Today about 1.5 (in Paris). Wake up before it's too late. A plan B is really needed for all CGG employees!! Do not forget BOS and Dolphin (do not exists any more).
george malcor says its all ok as does finance director in q and a session
i doubt it will, but then i am not on the board of directors, and those that are will not divulge this information.
What will the new interest expense be? After the restructuring.