Zip $1 Party, page-2045

Oh Tekky, you change what one said as ever. What you actually said:

"There is no chance of funding costs easing this year, particularly as the only place to borrow now is from PE" and went on to state it as fact.

Now ZIP will indeed pay the swap rate over the bond rates plus a nice tidy risk margin to its creditors. I showed those rates, plus the swap rates - investors can work out recent charged margins from the latest debt deal and those figures if so inclined.

So I refute your argument by showing you 10-YR Swap rates at around 25 bps for example having fallen from 50+ bps only a year ago AND falling implied forward bank bill rates:




No Tekky the margin is not up by 5%. Bank bills which form the basis of the rate (+ swap + margin) are indeed up a good 4% from where they were in 2021 (and swap rates not dissimilar), but this was clearly never discussing that, despite your attempts to suggest otherwise.

This was only about disproving your rubbish "fact" that "no chance of funding easy this year" - they already have since 01 January 2024 - nothing more. I get it. Schooled for the umpteenth time on your FUD on fixed income, so you go to the usual false attribution of statement.