Hi Bayswater
Yes they did get borrowings of $530M but $170M of that will be used to refinance current borrowings.
Assuming the merger goes through they will then likely repay the DLS convertible note $125M USD ($182M AUD).
I also estimate based on current oil prices, hedging and planned Capex that they will have a cashflow shortfall of $60M in 2015/16 and $180M AUD in 2016/17.
All of that is more than the $530M so I personally think that unless oil prices increase quite significantly they would need to do a CR to fund anything or offer shares which would not be the best option as BPT share price is currently so low.
Hope that helps
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