AFG 2.23% $1.38 australian finance group ltd

shrike,I believe you are correct.From 30 May 2008, Allco has...

  1. 64 Posts.
    shrike,
    I believe you are correct.

    From 30 May 2008, Allco has agreed to increase the margin payable under its senior debt
    facilities from 70-95 bps above the relevant currency borrowing reference rate (for A$: BBR, for
    Euro: EURIBOR, for US$: LIBOR) to 300 bps above.

    emphasise TO 300 bps above, NOT BY 300.
    so increase of between 2.05 & 2.15 %

    Allco’s drawn borrowings under its senior debt
    facilities, after repayment of the $78.3 million noted above, will be $862.1 million.

    So extra about $20M pa.

    I see it as case of "no really bad news is moderately good news"

    NB Holding AFGHA & AXQ, not AFG
 
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