Is anyone else surprised at how high the rate is? If they're paying about 600bps margin that's going to be an 11+% loan if the US Fed cash rate is the reference rate (which I assume it is for a USD loan), ouch.
I'm surprised a) that they have to pay such a high margin and b) that they didn't think they could do better via something like a ASX-listed hybrid/capital note.
Debt refi, page-7
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