Their is also an 8%fee plus the 10% PA interest plus this loan is secured over GXY assets which will make any further deals difficult.
The main thing to note is as you say Fengli, Geely have opted out and DB are selling down which tells us they see no future in GXY.
Refinancing just keeps the team in jobs and keeps their pay rolling in and all their expensive overheads just keep going.
Nothing in this for share holders the end result still looks the same as it did 2 years ago.
GXY Price at posting:
8.5¢ Sentiment: None Disclosure: Held
