Ummm, maybe they wanted a raising because the implied cost of secured debt taken out by GMG at present is 15% p.a.!!!
Talk about a shocking deal.... real lender of last resort stuff. Why didn't they just go to ANZ at get $500m at 7%... why? Because it ain't there... even if secured! Rightly or wrongly, GMG is right up against it. I hope it makes it, but unlike the karasco's of this world, I value my sleep and prefer not to worry.
GG didn't raise because he can't afford his share - and he doesn't want to hand over the keys.
He may soon have no choice.
Covered for today - very nice session
Good evening!!
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2 | 34664 | 34.090 |
1 | 5749 | 34.060 |
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2 | 13380 | 34.040 |
Price($) | Vol. | No. |
---|---|---|
34.130 | 247 | 1 |
34.140 | 3081 | 1 |
34.190 | 3082 | 1 |
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