Babcock & Brown Communities Group the owner and operator of 56 villages and 29 aged care facilities last Friday confirmed to the market and industry that Babcock & Browns funding challenges had no bearing on BBC and its debt position.
While 10 percent of BBC is owned by B&B, there is no cross shareholding or loans between the two. BBCs CEO John Martin stated it is important to note that BBC has a secure, non-recourse debt profile with a weighted average debt term of over three years, meaning BBC does not have to re-finance much of its $600 million in debt until December 2010.
It moreover bears mentioning that BBC staff themselves own three percent of the company.
