Not sure they spruiked it as a done deal.. wording used was always ‘indicative term sheet’ or similar which basically means the bank is broadly comfortable with the proposed project while providing some very high level details on financing metrics, covenants and steps to credit approval however full due diligence is still required to issue a binding term sheet.
This is more about shareholders getting ahead of themselves imo.. positive they’re speaking to a number of banks though as this will help drive the best outcome for shareholders
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