It's not an advantage to be paying interest for debt you have actually not drawn down yet.
Plenty of other companies can secure loan facilities at an agreed rate over libor, without paying interest on undrawn debt facilities so why can't FAR with its great assets do the same?
You can work out the real interest rate being paid because of this and it's not pretty.
I think the muted response in the share price reflects how unimpressed the market is with this.
Ann: Financing Update, page-314
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Last
46.5¢ |
Change
-0.005(1.06%) |
Mkt cap ! $42.97M | |||
| Open | High | Low | Value | Volume |
| 47.0¢ | 47.0¢ | 45.5¢ | $31.34K | 67.88K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3338 | 46.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 47.0¢ | 199900 | 2 |
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| Last trade - 15.59pm 13/09/2024 (20 minute delay) ? |
| FAR (ASX) Chart |