options for kzl, page-6

Banks only lend an umbrella when it is not forecast to rain. ANZ may take an equity stake only if they think it will give them a return, and also if the liability can move to one of their other entities that will show it as an investment not a loss.
They weigh up what they can report as provisions for bad and doutful debts for the current financial year, versus what is the current value of their investments. It is all about Tier capital ratios etc. KZL due to the time of year may if they are smart use this as leverage. Just must my opinion.

JJ