Daleg, there is a penalty if they pay off the entire loan before...

Daleg, there is a penalty if they pay off the entire loan before june 2013.
my understanding is that they can accumulate cash but not purchase other investments when cash comes in. the whole idea of the deferred interest is flexibility in repayment. clearly if they dont have to pay the 40 mil until 2037 then why not put cash in bank and collect interest until then? they cant pay divs, but the NTA will be a lot higher if they are sitting on cash.
i feel at some point sentiment on debt markets will improve and there will be an opportunity to sell assets at the 95% level. If not, i am happy to wait to june 2013 when they can sell at the 90% level and pay off debt.