That would be a $1.063 USD/AUD FX rate with is likely about right. The Notes are hedged though (at $1.0463 AUD/USD) - so the $547,465m outstanding liability is a correct accounting figure but a little off in real terms.
The Company has made a bit of a big deal about the extension of the ABLF, you could mount an argument it's because they need the money!
Either way, over the last few days it could be concluded from my posts that I've become negitive on the Compamny. Not so, we're just looking at facts.
One thing we've demonstrated is that the complexity of the LNC balance sheet is a major downfall of the company. It needs to be adressed - fast.
LNC Price at posting:
$1.53 Sentiment: None Disclosure: Held
