Not sure what your point is. Lynas are simply restructuring the existing senior lender financing facility. As far as I am concerned this is a permitted financial liability. Lynas have made it clear that the transaction will be undertaken in accordance with the terms of the Group’s other debt facilities.
You are right though, timeframe is different. The same amount of debt is now due in June 2014 instead of 5 instalments of varying amounts with final payment due March 31 2016. Any outstanding Mt K bonds are not due for redemption until July 25 2016.
I can just see it now. Mt K kicking up a fuss because the new debt payment schedule gives the company more time to strengthen its financial profile. Are you serious?
Buying prior Operations Update, page-13
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