I for one am reasonably happy with the outcome. Firstly it is a pro rata rights issue which enables us to maintain our equity and possibly increase it a bit.
It also reduces the debt from over 49% to 41% and saves a 0.4% in interest rates. That in my opinion significantly reduces risks especially from greedy bankers asking for extra fees. Also the div yield remains attractive in spite of a reduction in NTA per unit.
Most importantly we were not screwed by placements to instos.
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