$2 PARTY, page-8181

Hate to flog a dead horse, but the last refinance of book debt that ZIP did was advertised by FIIG at 90 day BBSR & 8.65%, or 4.3% & 8.65%, or 12.95%. ZIP management said a while ago they were aiming for an average of 7% across the $2.5 bil portfolio - that is a major disparity, but the real pressure is not from interest rates, but the margins applied by private equity. IN the case of BNPL businesses, IMO it is hard to imagine those margins reducing in view of the increased risk, and as banks will no longer lend in that space, there is nowhere else to go, hence the article I posted earlier in another thread.

If there was 2 interest rate changes totalling 0.5% in a dead economy, would that make any material difference? And would lenders be cranking up their margins - ZIP is yet to complete the lion's share of the refinance which will expend into next year. Shareholders should be asking about this and demanding answers from management.