Its fixed shortie. Its 25bp over the 12 bp above libor at time...

Its fixed shortie. Its 25bp over the 12 bp above libor at time of THE ORIGINAL PAPER. This rate remains on the CP for the term of 180 term of the extension. In otherwords it puts a ceiling on rams XCP funding costs on c6b of funding for 6 months at 37bp above libor before the cost blow out. So rams takes a hit of 37np on its NIM of 117bp for FY08 - materially effecting profits certainly but still making it profitable. See my previous calculations of NPAT of 40m for further detail.