chairman and ceo presentation to cer agm, page-18

Tweety Pie,
Straight long term debt extension would be the only great outcome for existing shareholders, so it is of concern when CNP have to raise the possibility of other alternatives to ensure their survival.
Remember we still need CBA approval in any deal, so we are now entering the high risk period again.
Whilst previous extensions were seen as risky, granting a few months at a time is nothing compare to 15/12/2008 decision.
Banks now have to committ for the long haul or pull the plug. Previously banks have thought CNP could solve most of their gearing problems just by selling down assets, but banks now realize this is far from an easy option.
Regards
Buffett