Capital Raise failed to Pass! Well done to all who voted., page-104

Viv

all im saying - is that it is possible for the banks to force the issue. one would need to chk the debt covenants for all of their debt (some are listed instruments) to chk for debt to assets, int costs to ebitda coverage ratios and if there are any chg's in int costs versus ratings.

all of this results in increased risk - so the insto's have another opportunity to play ........

remember back to the GFC - lots of LPT's were forced to pay down debt - with heavily discounted cap raises (like at 20-25c in the $ of "book value").

Beeline - looks like a retail asset, not a prop asset.

rgds
V_H