tweety - I agree absolutely - if the ANZ have unsecured exposure it is unlikley they would increase they're exposure especially when the microscope is on financial sector and their bad debt provisions - maybe its the "Pelorus" development.....that was going ahead if management rights were agreed ......could it mean management rights are agreed as well ....if so the next ann could be monumental......
Either way if the rumour is true it re-inforces the actual underlying credit quality of CNP....(ie ability to re-pay debt)......
I have my doubts however, given full review/documentation of facilities is being undertaken by syndicate of banks right now.....
As for it being additional working capital - doesn't stack up given EBITDA performance of the business which is used as a proxy for corporate cashflow by the banks....they have cash it is just a balance sheet issue for CNP
anz givin cnp 50mil this wk, page-22
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