borrowings, page-39

In the last two years our dollar has swung between 81 cents and $1.10.

At the time the loan facility was signed I believe it was in the low 90's.

You would hope someone offering forex hedging would have some idea of this volatility and be looking to cover their exposure which with hindsight we see to be $200m+

I am still willing to listen to the advice of a finance expert or forex trader as to what the premium to hedge $1.2bn at 90 something cents for 2 or more years would be?

If you were the lucky banker that took far less than $200m+ for such hedging you might have had a "new career opportunity" by now.

cheers
Surly