Railride22 Oct 2013 18:15
Not sure we will see the terms of the financing of the settlement yet but I hope there won't be restraints on dividends but it will be good to clear the air. I see value coming back but am so long and wrong that I'm prepared for a wait. Fingers crossed and good luck to all.
The resulting settlement value after applying collateral held by the counterparty, Barclays Bank PLC ("Barclays"), is €24.7 million. As at 30 June 2013 the fair value of the currency hedge liability, net of collateral, was €25.5 million as previously reported.
The Trust has agreed with Barclays to settle this liability on 25 October 2013 and in the meantime the Trust and Barclays are in advanced discussions in relation to financing this settlement and will report further once these discussions are concluded.