The quarterly activities report on 29/1 listed the repayment schedule agreed with TCW as part of the restructure agreement:
$41m for 1.5 years $76.6 for 2 years $20.5m for 5 years
all from 31/10/09 with interest acruing at 15%.
It is interesting that the total interest bill from 24/3 to the end of the individual terms = approx $38.5m
You dont have to be a rocket scientist to work out that if you have to pay that amount as a fee then you may as well hold on to the dosh for the full term and put it to good use to offset the fee!
So maybe its not such an issue after all. But its a pity MOL cant spell it out properly.
MOL Price at posting:
82.0¢ Sentiment: LT Buy Disclosure: Held
