Iam not sure what you are smoking buddy, but a lender being entitled to additional funds from free cash flow is not common practice for a credible debt instrument. It's standard practice for 3rd tier lenders to demand this.
You really think an emerging market fund providing 'debt' that also wants additional compensation is going to play ball for less than 15%??? Risk free rate of return has moved significantly north over the last 12 months and will be reflected in the terms.
One would expect that the DD will encompass the Gov FCI. My guess is they will have to apply a risk factor to the process yet to be formalised vs accepting it will happen in the short term at the current rate that other projects have been able to secure.
As you've said, the devil will most certainly be in the details
Ann: US$20m debt facility to complete the Lindi Jumbo Project, page-93
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