borrowings, page-13

Thanks Gindaldan

Sorry Buddy - No insider have been in & out of GBG many times over past couple of years & if you read my posts was looking to get back in. May have missed out thats how it goes. I was simply trying to help you out no other reason.

My example clearly shows how it works - Unfortunately you don't get it - Thats fine happens all the times with maths.

I'll try one last time using Gindaldan's explanation as well

The loan is in US$ - It is converted into AUS$ dollars only when a drawdown is done to pay for some equipment - Like a loan to build a house not buy one.

The budget was done two years prior to payments/drawdowns etc.

They estimated that the conversion rate would be .93 US to Aus - It wasn't it was closer to 1.00 or 6% - 8% difference.

Therefore 2.5b @ 6% differential = 150m
@ 8% = 200m

When they put the order in they had 2.5b US - Which was = to 2,688,172,043 AUS$

So the aussie equipment was going to cost 2.688b Aussie dollars to buy

When they made the drawdown the aussie dollar had increased.
So when they drewdown they only had 2.5b Aussie dollars @ 1:1 - Leaving them 150-200m short - 2.5bUS$ converted @ 1:1 = 2.5b AUS$

They need 2.688B AUS$ - They only had 2.5bAUS$

Thats my last try - Goodluck

Since you don't understand just realise this GBG ARE borrowing another $200m to cover the shortfall & my calc shows you how they are 200m short.