While it is true that the USD$20m facility is not contingent on the last CR and can be fully drawn after completion of DD will the failure of CR make DD more difficult? Yes! In particular can the main DD condition that the company show that they can repay the loan now be met? Risk has now increased but as I have posted before I think the company will get the loan. They just cannot fail, CD will mortgage his own house if necessary because it would be a disaster to not secure it. It will happen.
While it is true that the USD$20m facility is not contingent on...
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