"...subject to the successful conclusion of pre-placement market soundings..."
In other words this is not yet a committed facility whilst this very important condition remains.
And if the equity placement really was conditional on the debt raising, then the whole thing could still unravel. Why else would Glencore act as banker of last resort, other than to become lead mortgagee in possession?
"...subject to the successful conclusion of pre-placement market...
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