I dont think there will be dilution either. The report suggested...

I dont think there will be dilution either. The report suggested that a vote was required due to it being a related party.

The report also suggested that there would be insufficient free cash flow for distributions in the medium term and that the BBPF facility would remain in lockup therefore whatever the restructure is will likely not improve interest cover ratios.

This leads me to believe the restructure will be a relaxing of Interest Cover and Credit Rating requirements for a longer period and also that they remain in lockup with some sort of sweep of free cash flow and maybe with an encouragement to sell some assets to reduce debt.

This also would suggest that there wont be a debt/equity swap as you would think this would improve interest cover and free cash flow to allow the facility to not be in lock up.

Anyone care to offer their views on this?