Proposed Debt Financing23 Sep 2020 09:34
It is a 'Proposed Debt Financing' - no financing is in place yet, nobody knows the terms or what security will be offered or if they will even be able to raise the money.
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Somebody believes it's cheap enough to throw £12m at it
Nobody lends 12 million without being sure that the asset can service the debt
Nobody lends 12 million without being sure of the underlying asset quality and value.
And the fact they can get £12,000,000 of conventional debt shows that the assest is worth investing in.
are ignoring that the financing has yet to be agreed.