They want to able to use the facility for more than just SACC which would have the effect of being able to payout the outstanding bond due next year without raising extra debt, which at this time in the middle of a class action suit and banks saying not a chance would very sensible.
Then hopefully on announcement of whatever the outcome will be from class action they will be able to secure a debt facility with better terms than what they currently have.
They seem to be paying slightly over the odds considering how strong the balance sheet is.
Also CEO has mentioned they are past the low point in SACC and receivables are growing again, this was from an article linked from someone else in the forum about a week ago from memory.
They want to able to use the facility for more than just SACC...
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