Yes they need to tie up everything in a hurry or they will wade in to the tsunami of interest rates and inflation that is about to happen. While energy was a a moderate hedge, it isn’t when you leverage highly and your ‘loose ends’ amount to a credit/debt issue and companies that require debt finance to make these plants happen.
the clock is ticking and they are all deaf. Tick Tock MFs. Tick Tock.
Ann: Half Year Report and Accounts - 31 December 2020, page-133
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