The $5m facilty was Keybridge $3m and Glennons for $2m. How likely is Glennons to move with Keybridge? It could make the difference between a $3m or $5m hurdle.
When the facility was announced in March the independent debt advisory had received multiple finance offers. While this can be a throwaway comment Odin and Vali have both been progressed since March. Time for the advisors to dust off loan applications.
The timing of it all sucks but, based on the announcement, we are not in default so hopefully there is the chance refinance rather than CR.
MEL Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
