debt /equity swap

I have read the article from The Australian that the debt/equity swap will result in the bank owns 75% of BNB, that means the bank owns the assets for whatever the bnb share price is worth now without paying anything(it means the bank or bnb doesn't care how much the sp is now, even at 0.001c !!!) and has right to call the shot to sell it in the future at a higher price to make profit.