debt increased to 40 M, as per announcement net debt increase of...

debt increased to 40 M, as per announcement net debt increase of 7 M

the 13 M

In March 2018 and May 2018 the Company drew down A$8 million and A$5 million respectively against a secured syndicated loan. Interest is payable quarterly in arrears at an interest rate between 14.11% and 20% with a maturity and single repayment date of 29 March 2020.

So that 13 M debt was replaced with the following and extra 7 M drawn down

the debt-now ----$40M
current libor 2.6% 3 month
plus arrangement fee 2 %
plus 13 % margin
plus redemption premium 2% when payed out in one go at maturity (or add another 3 PC if paid out early)
so effectively 19.6% or 22.6% if its paid out early

plus more covenants