I think CFK securing financing from Macquarie Leisure (ML) poses more question than answers.
First point is ML had all the bargaining power, it seem that no one wanted to lend to them considering they were heavily geared. Being Macquarie backed fund I wonder what sort of condition and terms they put on the loan.
Second point ML loan may become a secured investor they will may have first right on CFK assets if they go in to administration.
Just my opinion do your own research.
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up 35pc on financing announcemnt, page-7
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