I think it is very important that the true nature of the 20%...

I think it is very important that the true nature of the 20% p.a. restructuring fee is disclosed. At the moment, we are operating under the assumption that this is 20% p.a. compounding, however, closer examination of the announcement suggests that it may not compound.

The announcement states that "No interest accrues", which suggests that there is no compounding component on the $2.12 billion. So the restructuring fee of 20% p.a. may simply be an additional payment of 20% of the principal for each year it takes to pay back, with no compounding. This is a very important factor in deciding what action should be taken. 20% p.a. compounding will decimate BNB and BBIPL within a few years. Exponential growth can be a nasty enemy. If the debt was compounding then, there is no long-term hope for the BNBG holders. If on the other hand the 20% does not compound, then I think the debt is much more manageable (relatively speaking). I will be writing to babcock and brown and the ASX for clarification.