It's GBP 250m (A$424m), and more precisely, this debt can only be repaid from the upside of 3 types of specified events or at the maturity date its unpaid balance will convert to equity.
The extreme risk event is that a large unpaid (or the complete) portion converts to equity, which basically obliterates the 4% (0.04) to 0.16% (0.0016). Basically zero.
A holder needs to make their own assessment of how likely proceeds from the 3 specified events are. I don't think UK asset sales are anything to be cheering for.
SGH Price at posting:
8.1¢ Sentiment: Sell Disclosure: Not Held
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