Ann: Agreement of Commercial Terms with Financing Syndicate-RES.AX, page-5

I agree, definitely a step on the right direction, however too early to determine if this is a GOOD deal:

The proposed terms of the facility include:

•   A mix of USD and ZAR loans;
  
  
•   Senior, mezzanine and quasi equity;
  
  
•   Realistic tenor and market related margins;
  
  
•   Noble is providing a cost overrun facility
  
  Very limited info here. What's the margins, what's the high side cap on Quasi equity etc.
  
  I don't see credit approval as an issue, it's more around the terms themselves. I trust we will be provided more details once past credit.
  
  Also where's the details of the MOU we apparently signed?
  
  All progressing well but would appreciate more detailed information rather than just the headlines.