Originally Posted by
Scrunch
You sometimes get extra borrowing held as cash when companies have doubt about the ability to access the headroom in their borrowing facilities. Sometimes companies believe or have been advised their borrowing limit is a sinking lid. You therefore don't pay down debt as you won't be able to redraw. Sometimes you borrow more of the facility and hold it as cash so as to ensure that operationally it remains available. No idea whether this is the case at NZR.
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