short-term loan funds conditiona upon waivers from...

short-term loan funds conditiona upon waivers from lenders........tells you that it was extremely "close" ........

15m - will payout the hedges prior to any refi .......plus a bit of working capital .....

pricing - TBC ........

better than Preff's getting equity in US sub that owns the assets (imho).......

2 punters that have had >> 9 months to do a debt deal......and didn't - being shown the door - a major +ve (again imho)....

new chaps - "above board" (in my experience of their history).....

rgds
V_H