Cmon, I haven't looked at NSE previously but just spent 5...

Cmon, I haven't looked at NSE previously but just spent 5 minutes on it now given the debt funding issue is going to be important for AKK holders.

I can see what your saying in your post but NST's disclosure didn't raise red flags for me. ASX companies apparently don't have to give details of debt facilities. NST just got one and gave zero details except the amount for instance.

NSE in contrast gave the maturity and the interest rate. Its a little comforting to me that its not a third tier (or 10th tier lender!) that is possibly in it for the equity. And its more comforting that the 13% interest rate makes sense. Not sure what forecasts are for NSE but currently cash burning at the operating level with development pending obviously. A lower rate would have suggested to me some tricks in the facility as we've seen in the past. Perhaps even contingent equity.

I agree that outlining up front fees would be helpful and probably should be done to give the announcement real meaning. And there is always the risk that covenants effectively short the maturity as per BCC but none of them will disclose that I guess. The drawing is also contingent so you don't really know how likely it is to work beyond the initial drawings. But again we'll probably never see details on stuff like that.

Overall, I would be happy if AKK made a similar announcement to NSE on funding.