i heard that HSBC and ANZ are the agent 1.3bil and ~ 400mil syndicated debt and they are working very hard atm.
GMG is one of IIF largest holder and it has been rumour for awhile that GMG is interested in IIF. If it wasnt for this GFC I am sure IIF is already swallowed by GMG...however this crisis make it a once in a lifetime opportunity for GMG to make the move with the current discount.
GMG has its problem, it is busy restructure itself and should be worry about Stockland instead.
IIF Price at posting:
31.1¢ Sentiment: LT Buy Disclosure: Held
