are origin shares worth for long term , page-30

very roughly

1 for 2.5 .....and 20% discount to TERP .........(to "get it away") .......

so perghaps a bit more than 25% +/- .......

the problem is that will severaly limit the upside to any eventual rebound in OP .......

I am still bewildered that they paid a divvy ........

anyways - it will play out quickly imho (FX on debt and "covenenants" - which AINT inside the annual report - why - its because most of the debt is within each JV asset..........and as such - there is (very likely imho) to be pre-emptives on JV equity .......this is "typically 60 days from any nomination") .....

the DSR on each asset is not public - one can get some hints from OSH presentations and also from ORG preso's (which would have similar debt coverage ratio's - given it was sanctioned at same time......if you chk note E1 - 38.7bn in assets funded by 10.5bn in bank debt, 8.1bn in mand redeemeable preff shares and the remainder as equity ......

rgds
V_H