At least they're trying to do something with the Trust because I can't say I'm happy with my instalment receipts sitting at 22.5c.
I just hope there's no clause in the CMBS debt contract that calls for automatic refinancing on a takeover. We're going to have messy cash problems if Westpac walks away or renegotiates its financing. The IR swap loss would probably be crystallised too.
At least they're trying to do something with the Trust because I...
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