Ann: Successful Establishment of $6.25M Funding Package, page-5

Its the acronym for Bank Bill Swap Rate which is a reference rate for pricing variable interest rates on securities generally. It enables lenders to create a variable rate which is related to the economic lending conditions at any given time. Current BBSW is about 4.3-4.4% so the rate for PWN is currently 12.3-12.4%. Not an outlandish rate given the size and risk taken on by the lender. I have certainly seen much worse rates for companies much bigger and less risky than PWN. Regardless I too would hope that the funds are utilised mostly in income producing deals for obvious reasons.