More Clues (and Mystery) about Textron Deal

In an interview yesterday Textron CEO Lewis Campbell failed to dispel clearly the questions surrounding Textron's future and in particular, its rumored sale to a consortium of UAE investors.

Campbell at one point said it was "highly unlikely" they'd need to sell either Bell or Cessna:

Given the success we have had with the Textron Financial liquidation so far, and given the recent sale of two high-value assets and other cash-production opportunities, I feel now that it’s highly, highly improbable and unlikely that we’ll ever have to divest any more assets.

But have these 'cash production opportunities' (read: desperate sell-offs) really produced enough cash? "It sold its Fluid & Power unit in November and HR Textron in March, generating about $615 million after taxes." Sounds good, but Textron has over $6B in debt coming due over the next 2 years. Good luck refinancing that while you are divesting your cash-flow positive assets in the meantime.