From my understanding the JV with BNB (according to a Goldman Sachs report) is non recourse to GPT. Which means, that if they want to leave hang out to dry they can, and it would in fact reduce the look through gearing ratio of GPT. Sure they would burn a billion or so, but at a 70% gearing ratio most players beleive the JV is already a goner.
debt covenants, page-9
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$4.15 |
Change
0.030(0.73%) |
Mkt cap ! $7.949B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| 30 | 38282 | $4.14 |
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| Price($) | Vol. | No. |
|---|---|---|
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| GPT (ASX) Chart |