Well 3 b Euro is pretty close to A$6b which will fix the 2009 refinance and a big chunk of the $5b due in 2010. Didn't Richard Goyder say last week that of the $3b due next year existing banks with $2b were happy to roll over their loans??
If that is the case then there is less than a billion not covered over the next few years.
My read is that this is pretty good news all round
3 billion euro mtn, page-5
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