The other take is that either the syndicate loan was not offering the best deal, and/or MNB did not meet what was expected from the syndicate loan? Surely at least one of these two scenarios must be true?
If 2nd case, then MNB won't have any from the 25m left, no doubt. If 1st case, what is the chance that MNB can get a better deal than originally offered? What leverage(s) that MNB has now compared to when the 25m was first offered to be able to ask for a better deal?
The other take is that either the syndicate loan was not...
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