On page six of the presentation, (just before the presentation starts), is a little comment about getting a US$180m unsecured revolving 3 year bank debt facility and a US$20m working capital facility.
Reason given is "Access to funds from these facilities will provide greater flexibility to OZL when considering internal and external growth opportunities, together with our capital management strategy"
Mmmmmm - I would have thought that $905m aud cash was enough for working capital and growth, but maybe I am wrong???. Why do it now? There is plenty of cash for internal growth and $750m has been reserved for M & A. Are they concerned about the tightening up of liquidity markets, and so are getting ahead of the game (a bit like our banks with organising funding early? or is there something afoot (as Holmes to Watson is apt to say?)
Because when you combine the above with this newspaper article, it just seems more than a little co-incident.
