Well jumpy I hope you've shared your insight with Gine Rinehart and the innumerable international banks of good standing who have just stumped up more than $7b in debt for Roy Hill. Remind me again how much revenue Roy Hill is currently producing?
I'd have to agree with you - lenders with sound balance sheets want a degree of confidence and certainty as to the strength of future revenue streams before finalizing loans. Typically such confidence is provided by way of BFS, or DFS at the least.
Not sure CDU can be all things you seem to claim/infer in your post: gamblers and fiscal conservatives (for not finalizing the loan) seem pretty well opposed to me.
FWIW I thought the team were heading down the right path with Minsheng although as you rightly point out there can be a sting in the tail with covenants, charges, conditions etc....
Also the cost of debt is not 7%, it is 4.9% (1 minus company tax rate) x 7%.
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