I have a Macquarie Prime Account which has a margin facility attached.
It is interesting that when PGI had a MC of well in excess of $100m, the LVR was 55%. It was raised to 70% well over a year ago and has been maintained at that rate since.
Mac usually amend LVR on stocks about every four weeks and I have been expecting a change for PGI, but to date it hasn't happened.
Now you can take this one of two ways-either, they have confidence in the project or they don't want to change the rate in case it suppresses the SP future.
My money is on the first scenario.
cheers
I have a Macquarie Prime Account which has a margin facility...
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