This loan is not required; the loan is shaped in US dollars outlined and being the bulk from (a) and (b) below:
a. Australian Government
b. Canadian Government
c. Korean Government
d. Small amount from commercial lenders.
The Euler Hemes piece is only a loan guarantee, and covers off (d) above. Around US$75M
The Koreans supply US$75M loan and also guarantee an equal amount.
In the end, ARU had too much debt funding, so had choices with regard to terms and conditions - and went with point (a-d) above.
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This loan is not required; the loan is shaped in US dollars...
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