muffinhead, I think they knew they were going this route back as far as May. After asking around it seems that the institutionals involved in the May placing were told that that would be the last dilutive placing to be performed by Leadcom, and that in future they could manage the growth through existing funds and debt. Whilst others may have thought fuding through bank debt, and therefore costly, obviously the management of Leadcom are a shrewd bunch, and have gone a far better route.
I have seen a lot of reviews of late saying how wonderful it was to see "xxx" company having a 20m or 30m facility of bank debt available and how this would be wonderful for them............wonder if any of them will see how much even more wonderful a decent credit rating and the abiity to use bonds is for Leadcom..........