refinancing problem, page-29

Hi all,

For the record I never asserted the banks could not demand repayment. Camdenbob is wrong to suggest otherwise.

CER has a very long history of having loans and having them rolled over. Banks have lined up and competed to lend to them as a result historically. The history of trouble free rollovers because of the history of trouble free repayments is what would could lend the banks in trouble. CER is conducting business as usual - it is the banks that are departing from the long held understanding of behaviour between the two should they not refinance.

If BHP's bankers chose to withdraw all funding overnight BHP would be in trouble too - despite its long history with the banks too... the law does allow remedies... but such is not law 101 stuff so wise up.

Lets make it simpler - does anyone suggest that CER's interest expense is not going to dramatically fall over the next few years from recent levels? Note that the tag team have been very silent on this point. The key one.

Blastoff