>It says: "the restructuring fee of 20% pa is payable on the remaining balance of the facilities if and when they are repaid."
>So the restructuring fee you mention is not applicable if BNB pay the facilities back on time in full. Lets hope things improve, asset sales go well and the economy picks up.
The key thing to note is the "pa". If it was 20% on the balance, at the end ... ok, you would be right.
I reckon it means 20% per year accruing on the balance until 2018.
This puts time on the bankers side ... even early, major sales, paying down big tranches of debt would not be enough if there is a small core of long term debt with only difficult assets to sell.
You might be able to deal with the large "house mortgage" - but it is the $10k "credit card" debt that kills most people.
BNB
babcock & brown limited
