Was on its way to a new high of $4 prior to this news that market disliked, but overreacted. Now ABC back at overreaction prices.
The unsecured borrowing facilities have been secured with three leading Australian banks:
Commonwealth Bank of Australia, National Australia Bank Limited and Westpac Banking
Corporation. Details of the new financing facilities are:
• $310 million: two year facilities expiring June 2010
• $210 million: three year facilities expiring June 2011
The new borrowing facilities replace the previous $360 million financing facilities which
previously were set to expire in March 2009.
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