Crapamoley the answer we all want to know. I’ll have a look, I think the answer is next to my winning lotto numbers, Hahaha.
The possible answers are many. It’s important to know what is happening in the back ground which we don’t making all the below a guess and rambling but its all I got, thought bubbles.
I am sure there are plenty of ducks lined up but if the next one in line won’t quack until it sees what the one in front says it could be a long wait, if you get what I mean. If there are others ready to pull the trigger on money/JV to fill the gap between required cash and KfW + Mezz then we could see full finance before June is my call. BUT and it’s a big one, if other possible sources of cash/JV and so on are only going to get serious once they see the Mezz signed off and see the agreement between those two, I.e. where does it leave them if it all goes bad or find any condition they may not agree on, then we could be bobbing on the SP mill pond for longer.
I find it hard to imagine that the smaller finance players including current and expectant holders after seeing the detail in which the KfW and Mezz have wrung the neck off this project, that they arn’t ready to sign on the line knowing this project will stand up to the job ahead and then some. It’s the deals in the back rooms that are key and we can only may poorly assumptions.
For example the JV could already be in the bag if Management want to go with JV. KfW and Mezz would want to know how is the whole thing is stitched together and with whom to ensure it won’t fall over once a JV is entered into. I sure as hell would want to know where and how is the rest of the funding is going to be achieved. There has been plenty of time for that to be determined and worked on in the background.
Once Mezz is done I would think and anticipate the final deal to be arranged quickly assuming the above rambling is correct re background work with a room full of quacking ducks. If that assumption is wrong......
Aside from finance time holes, stage 1 continues so when it all comes together no more time was lost waiting and straight onto stage 2 and beyond.
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