Aztec Mining ltd company that needs funds to expand its business. The company plans to engage in a large scale equity capital raising in the nest 12 months but wishes to raise as much debt as possible before that time while cheap debt is readily available.

Atzec has been involved in fundraising discussions with a venture capital firm Empire Capital LLP (based in NY). Empire Capital (EC)has agreed to lend Aztec $30 million in a single loan facility. EC will also assist Aztec to establish a further $30 million unsecured note issue for domestic investors that will carry 12% interest and may be convertible to ordinary shares in Aztec at the option pf the noteholder in 5 years time, Aztec make a presentation to wealthy investors at a private function conducted by EC in Sydney.

EC loan document is based on an old precedented and contains floating charge clause covering all of the company's property. Aztec also has a long term lease wit Lease Co covering mining equipment for the next eight years?

The above is the question I need solution for and also please explain floating charge?

Also, is that 12 % interest to domestic investors, a floating charge?