Actually, 10% is very high - and that amount was fixed before maybe the last 4 rate hikes. I don't pay 10 on my mortgage and I doubt others would be happy to pay that either.
MEL's first goal when it starts receiving cash flow should be to reduce/eliminate this debt. It is a structural cost of significant impact on operational costs. If we look forward in 2024, interest rates should decline - this debt at 10% won't - it is fixed.
Ann: Loan Note Update - Keybridge, page-14
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