Not sure you are correct.
The interest is only settled on an accrued basis for the full three years on conversion. The original T&C’s of the CN stipulated that to redeem (pay back) the CN it would be repayment of 110% of face value however, in the latest announcement we have renegotiated this to be 100%.
So to say, L1 Capital received 3-years interest on money lent to XPE for a few months is not exactly right.
RR
Not sure you are correct. The interest is only settled on an...
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