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Gold/Mining/Energy : Repap (RPAPF)
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To: Dennis Latchum who wrote (225)8/11/1998 10:52:00 AM
From: scott  Read Replies (1) of 485
 
the info i gave u is accurate-the debt is denominated in US dollars - the company is a reporting canadian company so it must present its financials in canadian dollars translated using an fx rate governed by a reasonably complex series of accounting rules. but keep in mind that given repap is in a commodity business which is denominated in us dollars, the value of the asset is also determined using us dollars. therefore they have an embedded currency hedge as both their assets and liabs are in us dollars, leaving he equity value of the firm the only exposure to fx flucuations. they do some short term hedging of their revenue ie they sell some of their us dollar revenue for canadian dollar revenue.
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