The funding would have been in place for quite some time and attached to some sort of break cost if the banks withdrew. These deals are not arranged overnight!!!.
What they were trying to do is create the impression that 'all is normal' - but it seems to have done the exact opposite - people cant belive that they would trumpet such a mundane announcement when the company is sinking at 10-20% per day.
The rail deal is just something coming out the end of the machinery line - what remains to be seen is if they can do any more new deals.
Why would you now want B&B to buy your countries infrastructure and risk that they will go bust. This is the big problem for B&B as a merchant bank - their credibility has taken quite a hit with all of this, and that is an incalculable loss.
BNB
babcock & brown limited
