This is a huge announcement in the scheme of things, vote of confidence from financiers.
- 5year term, 2years repayment holiday + 3 year repayments with balloon + cash sweep
- 5% all in rate (ibor+margin)
- CEFC participation
Getting a 5year facility locked in under the current circumstances, covid, slower demand / lower pricing, tighter lending restrictions for commercial banks, campaign mode operation. Big surprise to the upside.
Hope the market appreciates this for how significant it is.
Best of luck to all. Ship is heading in the right direction. Well done pls & co
Aimo
Ann: Quarterly Activities Report, page-8
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