Ann: NSW - Material Customer Contract Wins, page-16

Hey rick, welcome to the forum. Not sure you have done much research on the company if you are focusing on the current debt level. We recently raised via a placement and cap raise around $850 mil. This money along with undrawn debt facilities of around $300 million are going to be used to continue growing our infrastructure for a much larger return on our capital than sticking it in the bank. With our loaned capital (ie notes 4 I think we are up to now) heading lower on each negotiation, due to historically low interest rates, we are actually in a better position with each year that goes by. (Obviously as long as we keep building world class dc’s and keep filling them. ). I dont think any economist is predicting higher interest rates anytime soon. Anyway, plenty of info out there, hope this helps. Gltah