>The announcement states that "No interest accrues", which suggests that there is no compounding component on the $2.12 billion.
No, it only suggests there is no compounding interest.
The "restructuring fee" is not interest.
I hope you are right - at the moment it smacks of refinancing BBIPL at, effectively, "credit card" interest rates.
BNB
babcock & brown limited
clarification of "restructuring fee", page-2
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