I am a senior boldholder as well. the information that CBA and Macquarie (the senior banks) had provided conditional waivers to the company has been stated before by the company (and was known about in the marketplace for some time).......the bondholders are kind of down the chain if you like, subsidiary to the senior banks, and are only now receiving formal notification of the waivers..........to me it is no surprise, and as I said I wouldnt expect any action to be taken other than to approve a similar waiver to that already approved by the banks.
If you notice in the documents they state that the meeting will not proceed if a waiver is agreed to first...that is what I would expect. I cant see it is in any bondholders interest to not agree a waiver if the default is rectified....
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