Let me see if I have got this right.... MRM had a 5 year...

Let me see if I have got this right.... MRM had a 5 year financing arrangement that (basically) says that the banks can't withdraw funding and get their grubby little hands on the assets unless MRM breaches a covenant within the agreement like free cash flow or interest cover or debt to assets.... I suspect the MRM Half Year accounts precipitated this.

The high market volatility in the last couple of weeks has been partly due to the uncertainty about bank exposure to the oil and gas industry; I guess its naive to expect the banks rolled over and eased the covenant tests?

I believe MRM reports their Half Year on Tuesday - we await with bated breath!!