It is not grossed up. The formula per the prospectus is
DistributionAmount= DistributionRate×(1−TaxRate)x100
This is adjusted if the distributions are not fully franked, the end effect is the DistributionRate = Grossed up pretax rate.
The margin has stepped up by another 2.5% so is now 7.2% + BBSW (or 10y swap)
ELDPA not held
Ann: Capital Raising Presentation correction-ELD.AX, page-35
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