shrike,
I believe you are correct.
From 30 May 2008, Allco has agreed to increase the margin payable under its senior debt
facilities from 70-95 bps above the relevant currency borrowing reference rate (for A$: BBR, for
Euro: EURIBOR, for US$: LIBOR) to 300 bps above.
emphasise TO 300 bps above, NOT BY 300.
so increase of between 2.05 & 2.15 %
Allco’s drawn borrowings under its senior debt
facilities, after repayment of the $78.3 million noted above, will be $862.1 million.
So extra about $20M pa.
I see it as case of "no really bad news is moderately good news"
NB Holding AFGHA & AXQ, not AFG
ann out, page-6
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