It is easy to comment on companies without reading...

It is easy to comment on companies without reading announcements. Sure RHG will pay some penalty to refinance their 6.1Billion debt it may be small or it may be large. Worst case scenario the Australian Government won't leave this company go under because of the consequences to the genuine home borrowers who are not in default, may need some guarantee from Government to obtain finance but they will obtain finance. The opportunity also exists for a "Big Brother" i.e. another lending insto/bank to lend support & may be help with refinancing on the basis they also obtain equity by say a placement in company. There are many scenarios before 180 days happen.
Irrational selling today created a buying opportunity for those who cared to read announcement. Holders of this company need to know their company before making irrational decisions regarding their holdings.
Whilst not making any investment recommendation to any person I suggest DYOR & don't be influenced by the herd.
Regards
Buffett