Paul
If they can achieve recoveries of 50% they could do it (just) but that won’t happen with the issues they currently have with the plant. Even at .45% they should get to within $2m of the balloon payment and surely a refinance of such a small figure would be easily achieved. Brian has every reason to be confident of extending the repayments.
Brian undoubtedly would be very pleased to be rid of MacB and I would expect Camif to be an entirely different style of lender - supportive, not blood sucking.
A very big step forward !
Ann: Macquarie Bank Replaced as Financier of Las Lagunas Project, page-9
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