finance options

Hi philip,

Given you're in the banking game you may be best at answering these q's.

But firstly, that was a great post earlier by Gecko. I agree with all 3 points he raised. I was absolutely gutted when I first read ann this morning, however then digested it and agree with your points:

-> The finance was APPROVED (very different to rejected) which validates the operation’s viability and potential.
-> The man in charge is working for shareholders. It was effectively PJ who declined not the syndicate (albeit the offer (revised terms) may have been as bad as a decline).

OK so my questions for you:

Is it common for syndicates to reneg on terms after they have already been agreed by both parties? This seems strange to me & I'm assuming PJ would be furious.

What amendments do you think they made to the terms? He mentioned in BRR about us retaining control.

Would it be likely that an agreement could still be reached with the existing syndicate given their DD has been completed, or is it likely they won't budge once they make an offer? Is it like purchasing a property where you can go backwards and forwards until you agree on final O&A?

Could it just be 1 or 2 banks causing the issues and we find replacements for them in the syndicate?

Do you see it as a positive that they approved and made an offer even though terms were amended? This obviously seems better than a decline, however we don't know what they requested. It was obviously enough to push PJ over the edge, and my guess it's to do with maintaining control of the project.

I am very suprised with the outcome today and hopefully some positive news soon.

Look forward to your response Philip.

PS i picked up another 20/ today.
Cheers