Thsi is a large facility, IMO quite cheap and great it is locked...

Thsi is a large facility, IMO quite cheap and great it is locked in for 5.5 years. It will enable STO to take advantage and fund small purchases without expense of having to go to market and especially as it is spinning off cash there seems to be no carrying cost if undrawn? One nice big overdraft that with IRR on $ means it is very efficient to spend upfront to gain any efficiencies , expansions, add ons , tie ins as finance already locked in .
Not sure what forward projections on cashflow they have shown lenders but it seems quite low rate

I wonder if they waited a until Reserve dropped rate if they could have got it even cheaper or if the reserve lowering rate actually triggered signup?