[kingstreet]

At the moment things are fine. Interest rates have dropped and interest payments are lower as a result. You won't see that in the accounts for another twelve months.

The debt repayments start in 2013, with a repayment of £75m due in June.

Bigger chunks are due in 2014, 2015 and 2016.

Then the PIK or "deferred interest" debt is due for repayment in 2017 if they can't pay it off earlier.

 

[kingstreet]

Blyme!

Even Mr Vorderman is starting to get things right!

More worryingly, the ledger seems to suggest huge repayments are due, starting in four years’ time, with bills landing on the doormat of between £75m-£150m every 12 months, followed by a massive £600m final demand in eight years.

I wonder if the journos, who've previously paid no attention to this other than to parrot the OT line about "the debt being manageable" are turning a new leaf in these days of financial prudence and trying to expose what's really happening in the game?

If they are, it's about bloody time someone joined David Conn in the honesty stakes...