I didnt actually mean to be snooty but at the end of the day from what you say, you end up with an interest rate of Libor plus about 1.5 % on average plus a mandatory cost which you say looks very complicated but which the Ithaca presentation seems to ballpark at around 0.3 %. The hedging also seems to be something of a non-issue and is almost certainly nothing compared to INA which was in vastly different circumstances.
I appreciate that bridging loans can be very expensive and that it warrants an examination but so far nothing really seems to indicate this is the case.
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If you took the time to read and go back to my original comment to dbeaude - I did not suggest that the bridge Loan was expensive or commented negatively on said . I suggested that in my opinion what he reported as factual numbers were probably missing some elements.
End of story - as such I took the time to review the Contractual agreement and posted the information I found. Which obviously suggest that indeed some elements were left out. I further commented that given the unknown in this contractual agreement, it certainly failed ( in my book) to make said agreement a 'clincher' in terms of buying shares.
Enough said !