It's prudent capital management to roll debt over and manage your balance sheet. All companies do this, and if the terms weren't beneficial to the company they wouldn't do it.
Remember that all these current debt was entered in to when interest rates were higher and the company had a lower credit rating. They will be able to extend the maturity dates and get lower interest costs as a result.
I don't think this is a surprise in anyway, they were always going to roll some debt forward. Remember the target gearing ratio is ~40%. The market will eventually agree that this de-risks the company in the medium term (next 5 years).
It's prudent capital management to roll debt over and manage...
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Last
$21.62 |
Change
-0.420(1.91%) |
Mkt cap ! $66.56B | |||
| Open | High | Low | Value | Volume |
| $21.61 | $21.78 | $21.48 | $190.2M | 8.611M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 15504 | $21.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.62 | 6560 | 1 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |