Into 2016 and beyond, page-4

How will the market react to us$135M increase in AGOs net asset position by discharge of debt for equity?

Debt lower by $135M
Net asset value increases by $135M
Balance sheet improved by +$135M
COP & expense ledger slashed by $12M pa
A defacto default? Yet no default claimed or sought, a claim incorrect legally & financially, pure misunderstanding of basic contract law & other IO producers bond precedents.
Creditor agrees to take shares in a defaulter? No way, they think the shares have value & will go up
Creditors agree to give up security for unsecured shares instead! Very positive.
the lenders support AGO as well! As do the contractors, buyers & Govt.

This is a defacto financial windfall and massive debt discharge for AGO, defacto ensuring lower costs & stronger balance sheet, lower LVR ratios...thats not a default but a defacto sign of support from its creditors.

When creditors support you, and the bank wants your shares thats a defacto strengthening of your finances not vice versa. When the Bank doesnt want a shutdown & wants to finance you better, dont argue, as the bank always wins.

I predicted a deal with contractors & a CR, now I predicted a bondholders deal as well. This aint no MBN, but a defacto ensural of a market rerate on creditor support. Whats $135M in less debt & 50% lower debt slashed worth to AGO on market now?

For MBN it was a 22 bagger run in 3 days.