Paperlinx draw down more of their facility in this half of the...

Paperlinx draw down more of their facility in this half of the year, hence if you were to test around November their bank debt level that will give a better indication of their position.

However, it is cyclical, it then comes back down again in the new year. Part of their working capital requirements.

This company still has low debt level and if need be it can put a hold on the hybrid interest payments (sure there are penalties) but if it has to it has this leverage.