AJM Chart, page-6472

When its this tight every million helps . Reading deep into announcements i find it hard to beleive AJM have not hedged currency in regards to the USD denominated loan , given consensus on AUD has been negative for last couple years this is a huge oversight by AJM beancounters with many millions gone to waste over last 2 years . Some things done a bit better and this bond may well be done and dusted , trust me anyone looking at financing AJM via this bond will be looking at these shortcomings as well . In the last 2 years AUD is down near enough to 15% . 15% of interest in AUD priced capital loans is a lot of coin today . Maybe enough to take a lot of pressure of . AJM needs to address these shortcomings but maybe this is too little too late . Hard to beleive it was not an inclusion in loan contracts tbh .