It is beyond question that refinancing is in IFN's best interests. While the interest rate charged may not be as low as all holders desire, ending the restrictive covenants so management can build the business is a major step forward.
Lower interest rates will come about once IFN gains control of its affairs and can show financiers a clean balance sheet and free cashflow available to meet debt obligations.
Perhaps the agenda of Sethu & Meng is merely to draw attention to IFN and thereby boost the value of their holdings.
I would say, this will happen anyway on refinancing, commissioning Bodangora and the other initiatives extensively discussed on this site.
Neat smackdown of this nonsense by the BoD and TCF. Well done.
Ash
IFN Price at posting:
58.3¢ Sentiment: Buy Disclosure: Held
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