If you had done any research, you'd know the old facility from BankWest was just under 5% pa. Carlyle's rate was competitive at 5%. The 20% was in there as a poison pill to dissuade any other parties.
And like you, Tarvold is wrong once again, the financing was free through September had the SIA completed.
'20.0% per annum during the Initial Term, accruing and payable only at maturity unless the term is extended to the Extended Term (in which case no interest will be accrued or paid during the Initial Term), and the interest rate during the Extended Term will become 5.0% per annum'
PNC Price at posting:
22.5¢ Sentiment: Hold Disclosure: Held
