'They can't draw down untill 12 months from production and it is a 18 month construction process so it's really to cover construction and start-up costs'.
I've got a slightly different interpretation. I think they can draw the money much sooner (which is not bad by itself) and if they don't start production the lender will get the money plus interest.
'They can't draw down untill 12 months from production and it is...
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