centros liquidity facility..., page-26

Tweeety,

My read is that they have paid 3.75% margin ( ie on top of cost) for the liquidity money. How is that cheap?

Normally if you give away equity you dilute existing shareholders. As this is hypothetical right now, its a bit hard to debate.

I cant see the banks being easy on the issue though. They now have some security which they didnt have before, and if they go another round, they will squeeze hard to get even more goodies for themselves. The banks wont care about the CNP shareholders. They will only worry about their own shareholders.

Lets see what , if anything transpires by the end of September.