Clearly, debtor finance would be more expensive than current...

Clearly, debtor finance would be more expensive than current bank facilities, but not quite sure the difference would be 600 bps, as I assume most of the debtor book is insurance claims - meaning low credit risk as debtor is insurance company.

Then again, only an alternative if the bank syndicate wants to be reduced upfront. Without knowing, I could imagine the restructuring of the bank debt includes cancellation of revolver facility (head room previously mentioned in announcements), why debtor finance could be a short term alternative for generating cash, if needed. Second, probably a more detailed repayment profile (cash sweep), so the balance is gradually reduced prior to June 2018, why there will be no dividends going forward (probably not a concern for shareholders anyway at this stage).