Baillieu Valuation of VEC, page-375

You can put a blindfold on and speculate throwing darts rastes if that makes you feel better.

Obviously neither of us has seen the agreement, it’s confidential. But signing the agreement last year with FT General was clear “intent” by both sides to engage into a binding financing deal. That intent remains unchanged. The drawdown timeframe was missed by FT, that’s all, since that time they could be arranging it again with FT. I haven’t read anything to the contrary.

@beisha the way FT work to my understanding they are not a bank so to speak. They use cashed up investor types who go for these debt facility type returns, like VEC’s 7% deal. Low risk secured loans that provide higher than bank interest rates. Check out their website for more.