AVB avanco resources limited

Ann: Appendix 3Y, page-55

  1. 833 Posts.
    commercial interest rates in Brazil is likely to be in double digits. I think it is likely to be 13-16%.

    which is why i am open to AVB doing a convertible bond at a say rate of 10% or CR north of 10c.

    However i can understand why management went with it, the debt isn't such a big amount and the project has a fast payback time. Having debt covenants is also a good thing as there will be more transparency in meeting debt obligations as opposed to full equity. Then there is the potential partnership for stage 2 debt funding as well which has been stated by management.
 
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