it is more like JBL probably negotiating with Macquarie how much...

it is more like JBL probably negotiating with Macquarie how much of the debt should be conversed to equity and interest terms on the rest of the debt. The more debt conversed to equity (hence compromise) the less tress on the new entity. Since some of the debts term repayment will have to be settled july 2013 according to PLA financial report. JBL might be trying to negotiate the extension on the repayment date for that, because to restart Smorkey hill in the second half as they planed they will need all money available they can get rather doing another fund raising right after the merge.