I thought the working capital facility and the mezzanine debt were ranked ahead of AHUG.
The annual report states that "the working capital facility is secured by a first ranking fixed and floating charge over the assets and uncalled capital of Alleasing Pty Limited and its controlled entities."
The half year update also states that the working captal facility has first ranking fixed and floating charge over the residual assets of Alleasing (note in-term lease receivables are subject to a first priority ranking charge in favour of lease funder).
AFG mezanine loan second ranking floating charge over the “residual” assets.
I thought the working capital facility and the mezzanine debt...
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