beppa in 2012, page-84

What Does Non-Recourse Debt Mean?

A type of loan that is secured by collateral, which is usually property. If the borrower defaults, the issuer can seize the collateral, but cannot seek out the borrower for any further compensation, even if the collateral does not cover the full value of the defaulted amount.

All BBI's assets have non-recourse debt attached. The corporate debt is separate.

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Further

ONLY corporate debt which is RECOURSE to BBI can kill BBI.
The debt attached to each asset is NON-RECOURSE debt. If a particular asset defaults, the lender DOES NOT have any recourse to other BBI assets. Therefore, it is called NON-RECOURSE debt.

Cheers

eMark