@cnn, I dont think Q1 will matter much as far as the grand march to 13 is concerned. Hell they could even announce a loss, 13 is still in the horizon.

@the deal, both shareholders and management benefit if it is CP. Shareholders usually have no say how their capital is used. Management can technically do whatever they want with shareholder funds and account to no one. With CP, the lenders will have a more than casual interest on how their funds are spent so they sort of act like agents (Agency Theory) to police the management.
Management can also raise cash much quicker - look at the lead times for a CP and a rights issue.
Management also don't like shareholders - sad but true and the less outstanding shares there are, the better for them.
For shareholders, the better money given to the company is used, the more value is added to the firm.

Cheaper cash! CPs are short-term (Bonds are more expensive to launch, etc)...

Rights is also expensive...

@Horton - The CP is for Working Capital 30-90 days... so the rates they get are low coz they follow the T-Bills...

They dont have much LT debt... lok at the Annual Report... Only 75-100mn

The ST is 4bn+ but coz of WC needs...