my analysis of today's announcements, page-7

b00f,
Very good summary. The key is selling DBCT as you say.
The banks are quite happy to continue "supporting" BBI by refinancing....BUT, at a very big price. INTEREST costs up $173M. That is a disgrace. The banks played a huge part in this GFC and now they are taking advantage of the situation with exorbitant interest charges.

Overall, the big leverage in BEPPA is gone "short term" but come 2012 they are worth $1.04 plus interest. I will not be hanging around for 2012. My plan remains as it always was. Switch from BEPPA back into BBI. It's just that the timing has changed.