spoke to bnb, page-6

What are thoughts on the offer if it eventuates based on what swap has told us?

I will say about $20-$25 per note, my reasoning is that this is a significant discount to Face Value but 4-5 times last share price and it might be roughly half the value of Management Contracts and is therefore a reasonably fair compromise so both the Banks and Noteholders somewhat benefit from an agreement.

(It is a big assumption that the banks will actually think that they should give us this to encourage us to do them a favour by not putting BNB/BBIPL into administration)