Looking at the presentation that came with the release there is...

Looking at the presentation that came with the release there is change in the banking arrangements for the US operations.

There is now a JV banking syndicate which is new for the US operations. This removes the existing US debt from the existing banks.

As ABC has 40% of the JV they have reduced their debt position by 60% but as they only hold 40% of the JV even the remaining debt can be removed from their accounts.

So $750 million = 60% of US + convertible notes + changed bank loan arrangements