@anticyclical agree with your $650m figure but note it is total, not net debt. Net debt at June 30 at balance date was $531.2m The $84.5m includes refinancing of around $5m and the cost of breaking interest rates swaps was around $43m (one off). Actual interest expense was $32.9. Ballpark interest rate on closing balance probably closer to 6%, certainly not 13%. Hope this helps clarify. Nonetheless, gearing is still high.
IFN Price at posting:
45.0¢ Sentiment: Hold Disclosure: Held