$3.5m in process of being refinanced

This is part of Burdekin's second quarter activities report that they released Jan 31 205

"$3.5m debt facilities in process of being refinanced.

Re-financing of Debt Maturing on 28 February 2005

The Company has $3.5 million in unsecured debt facilities, comprising a $0.7 million convertible note and a $2.8 million promissory note that mature on 28 February 2005.

Both facilities are held by Ocean Resources Capital Holdings plc.

The Company has received a formal written offer of finance from a leading Australian financial institution to provide a facility under which the most of existing facilities are to be repaid, with the balance to be funded from other sources.
The Board is presently in the process of reviewing the terms of the offer and expects to conclude agreement on the detailed terms for this facility during the first week of February."

Who is the financier?
'leading Australian financial institution' - that sounds fantastic.

Constructive comments & discussion please.
I hold bks
Always seek professional investment advice before investing & please read below.