And this will be the real kicker for the ole GBG:
Finalisation of the US$1.2bn senior debt facilities next key catalyst GBG has previously announced they are targeting April 9 for completion. We understand that these negotiations have been progressing with a term sheet agreed and are nearing finalisation but that this may occur after April 9. Given the equity in the project, drawdown of the loan will not be required until May/June 2010.
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