It actually is not too scary what is happening. P&L will benefit by reduced interest, and the debt issuer is wanting to take equity in the company.
Aaaaaaand, a further party (Peleton) is wanting to underwrite as well for a portion of the CR.
If these 2 entities want scrip, them I'm ok too.
The assumption is that 30% of rights will be taken up by existing SH's. The underwriters take 70%.
Should be some good announcements coming after such a large equity issue to wash through.
Ann: Pro Rata Renounceable Rights Issue - Investor Presentation, page-6
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