Ann: Debt Facilities Update, page-146

5holder where do you deduce that "MtK have this company by the balls"??
That's plain silly.
Check p17 of the 2nd half 2013 financial report.
To quote it's a "US$225 million unsecured convertible bonds issue" (my underline) with the "conversion price of the Convertible Bonds is currently A$1.15 per share" (currently about 90c from memory).
The interest rate is very low too from memory but I can't recall details.
Do you seriously think they're happy with their position??
With the Sojitz loan ahead of them?
Yes they can put conditions on new debt in the event of a refinancing but have no say (as I understand it) in renegotiations of terms with Sojitz.
IMO they'll be happy to bail with their principal and basic interest if there's a major debt restructure on the table because in the event of a Lynas collapse they'll probably lose a bundle.
Thanks for the cheap finance guys!