Loan agreement – A Pair Of http://apairof.com/ Tue, 24 May 2022 17:16:48 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://apairof.com/wp-content/uploads/2021/10/icon-33-120x120.png Loan agreement – A Pair Of http://apairof.com/ 32 32 Exim Bank and a Japanese bank sign a $100 million loan agreement to finance health projects https://apairof.com/exim-bank-and-a-japanese-bank-sign-a-100-million-loan-agreement-to-finance-health-projects/ Mon, 23 May 2022 12:57:00 +0000 https://apairof.com/exim-bank-and-a-japanese-bank-sign-a-100-million-loan-agreement-to-finance-health-projects/ By PTI MUMBAI: Export-Import Bank of India (Exim Bank) announced on Monday that it has signed a $100 million loan agreement with the Japan Bank for International Cooperation (JBIC), as well as three Japanese private financial institutions — MUFG Bank Ltd, Bank of Kyoto Ltd and Hachijuni Bank Ltd – aimed at supporting India’s healthcare […]]]>

By PTI

MUMBAI: Export-Import Bank of India (Exim Bank) announced on Monday that it has signed a $100 million loan agreement with the Japan Bank for International Cooperation (JBIC), as well as three Japanese private financial institutions — MUFG Bank Ltd, Bank of Kyoto Ltd and Hachijuni Bank Ltd – aimed at supporting India’s healthcare sector in the fight against Covid-19.

The deal was signed on Monday on the sidelines of the Quad Leaders’ Summit, Exim Bank said in a statement.

“The purpose of this facility is to support the Indian healthcare sector related to the fight against Covid-19, including but not limited to vaccine manufacturers, pharmaceutical companies, medical equipment manufacturers personal protection, medical oxygen or other medical devices, hospitals and other related activities.” It said.

The development finance institution supports the health sector and all segments of the pharmaceutical value chain.

Apart from supporting the domestic expansion projects of companies in these sectors, the bank has also supported the overseas efforts of various Indian companies in the healthcare sector, pharmaceutical companies and biosimilar/biopharmaceutical companies (including science life), among others.

In addition, it has supported research and development, new product development and other related fields, he added.

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Home Credit PH and Citi Sign P420-M Loan Agreement https://apairof.com/home-credit-ph-and-citi-sign-p420-m-loan-agreement/ Mon, 16 May 2022 13:59:49 +0000 https://apairof.com/home-credit-ph-and-citi-sign-p420-m-loan-agreement/ FINANCE HC Consumer Finance Philippines Inc. (Home Credit) has signed a 420 million peso social finance facility with Citibank (Citi) to further promote greater financial inclusion in the Philippines. This loan agreement should help customers who want to buy mobile devices in the Philippines. “This loan facility is a continuation of a deliberate strategy by […]]]>

FINANCE HC Consumer Finance Philippines Inc. (Home Credit) has signed a 420 million peso social finance facility with Citibank (Citi) to further promote greater financial inclusion in the Philippines.

This loan agreement should help customers who want to buy mobile devices in the Philippines.

“This loan facility is a continuation of a deliberate strategy by Home Credit to seek innovative and sustainable financing options for our business while striving to provide sustainable and responsible financial services and products on the developing market. Enabling our clients to live a better life is a central part of our approach,” said Jean Lafontaine, Home Credit Group, Head of Financing, Mergers & Acquisitions and Investor Relations.

Borrowing from the “point of sale” offered by Home Credit is the first experience many Filipinos have with any type of credit. This inclusive loan is particularly aimed at women, who make up around 50% of total Home Credit borrowers.

Home Credit further explains that the facility is a social loan that will be tracked quarterly through a certification detailing the “mobile point of sale” portfolio for KPIs, including the number of new digital devices funded and the percentage of female borrowers. .

“Today’s announcement marks an exciting new chapter in the history of Home Credit in the Philippines. I am proud that the loan’s measured Key Performance Indicators (KPIs) will be of particular benefit to our clients. The combination of safe access to responsible financial services and digital technology has the potential to have a transformative effect for Filipinos across the country,” said David Minol, President and CEO of Home Credit Philippines.


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KADESTONE CAPITAL CORP. ANNOUNCES LOAN AGREEMENT https://apairof.com/kadestone-capital-corp-announces-loan-agreement/ Tue, 03 May 2022 00:09:00 +0000 https://apairof.com/kadestone-capital-corp-announces-loan-agreement/ /NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISTRIBUTION IN UNITED STATES/ VANCOUVER, BC, May 2, 2022 /CNW/ – Kadestone Capital Corp. (“Kadestone“or the”Company“) (TSXV: KDSX) (OTCB: KDCCF), a vertically integrated real estate company, today announces that it has entered into an agreement (the “Loan Agreement“) with the Zhang Family Trust (2015) (the ” Lender”), […]]]>

/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISTRIBUTION IN UNITED STATES/

VANCOUVER, BC, May 2, 2022 /CNW/ – Kadestone Capital Corp. (“Kadestone“or the”Company“) (TSXV: KDSX) (OTCB: KDCCF), a vertically integrated real estate company, today announces that it has entered into an agreement (the “Loan Agreement“) with the Zhang Family Trust (2015) (the ” Lender”), pursuant to which the Lender will provide a term loan to Kadestone by way of an unsecured, non-revolving credit facility (the “Facility”) in an aggregate maximum amount of up to 10 million Canadian dollars. Proceeds from the facility are to be used by Kadestone for general working capital purposes.

Interest is payable on the unpaid amounts of the facility at the rate of 5% per annum. The principal amount outstanding and any interest accrued thereon are payable on the earlier of (i) the maturity of the facility on March 31, 2024 and (ii) the occurrence of an event of default under the Loan Agreement.

The loan agreement also grants the lender certain participation rights in future equity financings of Kadestone as well as a right of first offer with respect to the financing of future real estate development projects.

About Kadestone

Kadestone was established to pursue the investment, acquisition, development and management of income-generating residential and commercial properties and the supply and sale of building materials in major urban centers and high-growth emerging markets. in Canada. The Company operates five complementary business segments covering sourcing and supply of building materials, real estate development and construction, construction finance, asset ownership and property management. These synergistic business lines have cemented Kadestone’s vision of becoming a market-leading vertically integrated real estate company. Additional information can be found at www.kadestone.com.

ON BEHALF OF COUNCIL

(sign) “Brent Billy”

President, CEO and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements

Certain information contained in this press release, including but not limited to statements that capital from the sale of the Kyle Road property will enable the Company to repay its debt and the Company’s vision to become a leading vertically integrated real estate company, may constitute forward-looking information (collectively, forward-looking statements), which can be identified by the use of terms such as “may”, “will”, “should”, “expect”, “anticipate”, ” project”, “estimate”, “intend”, “continue” or “believe” (or the negatives) or other similar variations. Due to various risks and uncertainties, including those mentioned below, actual events or results may differ materially from those reflected or contemplated in these forward-looking statements. Accordingly, you should not rely on these forward-looking statements. Additional information identifying assumptions, risks and uncertainties relating to Kadestone is contained in Kadestone’s filings with Canadian securities regulators available at www.sedar.com. These risks include those described in the “Risk Factors” section of the Company’s final prospectus dated September 22020 and in the management report for the years ended December 31, 2021 and 2020. The forward-looking statements contained in this press release speak only as of the date of this release or as of the date specified in the relevant forward-looking statement. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Kadestone Capital Corp.

For further information: David Negus, Chief Financial Officer, Kadestone Capital Corp., [email protected]

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Bangladesh signs $200m loan deal with AIIB https://apairof.com/bangladesh-signs-200m-loan-deal-with-aiib/ Sun, 01 May 2022 04:50:00 +0000 https://apairof.com/bangladesh-signs-200m-loan-deal-with-aiib/ TBS report May 01, 2022, 10:50 a.m. Last modification: May 01, 2022, 10:57 a.m. FILE PHOTO: The sign of the Asian Infrastructure Investment Bank (AIIB) is pictured at its headquarters in Beijing, China July 27, 2020. REUTERS/Tingshu Wang/File Photo “> FILE PHOTO: The sign of the Asian Infrastructure Investment Bank (AIIB) is pictured at its […]]]>

TBS report

May 01, 2022, 10:50 a.m.

Last modification: May 01, 2022, 10:57 a.m.

FILE PHOTO: The sign of the Asian Infrastructure Investment Bank (AIIB) is pictured at its headquarters in Beijing, China July 27, 2020. REUTERS/Tingshu Wang/File Photo

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FILE PHOTO: The sign of the Asian Infrastructure Investment Bank (AIIB) is pictured at its headquarters in Beijing, China July 27, 2020. REUTERS/Tingshu Wang/File Photo

The Government of Bangladesh signed a $200 million loan agreement with the Asian Infrastructure Investment Bank (AIIB) on April 26, 2022 to implement the “IDCOL Multi-Sector Lending Facility Project”.

Deputy Secretary of Economic Relations Division, Md Shahriar Kader Siddiky, and AIIB Managing Director of Investment Operations, Dong Ik Lee signed the loan agreement on behalf of Bangladesh and AIIB respectively , according to a press release.

The objective of the project is to promote infrastructure investment by providing long-term financing to the private sector in Bangladesh.

It is aligned with Bangladesh’s goal of closing its infrastructure gap and achieving sustainable growth, as outlined in the Bangladesh Perspective Plan 2021-2041.

The project will be financed by a loan to Bangladesh, which will be on-lent to Infrastructure Development Co. Ltd (IDCOL). IDCOL will further on-lend the amount to private companies (sub-borrowers) in Bangladesh to support eligible infrastructure projects, the press release adds.

The project will provide IDCOL with additional resources for long-term financing, given the huge market needs and the need to increase the availability of long-term financing for infrastructure projects in Bangladesh.

The loan will be received under the standard terms and conditions of the AIIB. The repayment term of the loan is 18 years including 5 years of grace period. The initial fee payable is 0.25% and the commitment fee is 0.25% per annum for the amount not withdrawn.

The interest rate on the loan will be 0.60% + the AIIB’s (variable) borrowing cost margin.

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Fairbridge Asset Management Announces Up to $100 Million Loan Agreement with Oaktree https://apairof.com/fairbridge-asset-management-announces-up-to-100-million-loan-agreement-with-oaktree/ Fri, 29 Apr 2022 20:32:00 +0000 https://apairof.com/fairbridge-asset-management-announces-up-to-100-million-loan-agreement-with-oaktree/ Investment strengthens Fairbridge’s position as a leader in bridge financing NEW YORK, NEW YORK, USA, April 29, 2022 /EINPresswire.com/ — Fairbridge Asset Management LLC (“Fairbridge” or the “Company”), a private direct portfolio lender focused on originating, investing and lending commercial real estate management in major U.S. markets, today announced that it has entered into a […]]]>

Investment strengthens Fairbridge’s position as a leader in bridge financing

NEW YORK, NEW YORK, USA, April 29, 2022 /EINPresswire.com/ — Fairbridge Asset Management LLC (“Fairbridge” or the “Company”), a private direct portfolio lender focused on originating, investing and lending commercial real estate management in major U.S. markets, today announced that it has entered into a $50 million loan agreement with an option for two additional $25 million tranches with funds managed by Affiliates of Oaktree Capital Management, LP (“Oaktree”), a leading global investment firm. Participating funds within Oaktree will also receive warrants to purchase a minority stake in Fairbridge. The Company expects the proceeds from the financing to support the expansion of Fairbridge’s bridge lending platform.

Fairbridge provides fast, flexible and creative bridge financing solutions to real estate professionals looking to capitalize on opportunistic real estate transactions. The Company’s institutional platform can offer mortgages with a principal value of up to $50 million, with a particular focus on borrowers looking for $10 million or less. Fairbridge believes that the inefficiency and fragmentation of this market segment allow for better returns and better structuring opportunities.

Brian Walter, co-founder and managing partner of Fairbridge, said: “The bridge loan market is complicated and disjointed. We help borrowers by providing integrated and creative solutions that unlock value across the entire capital structure. This investment from Oaktree will support our pursuit of a larger share of the fast-growing bridge loan market.

John Lettera, co-founder and partner of Fairbridge, added: “Oaktree is an experienced investor with significant resources and expertise in providing creative financing solutions. This commitment will allow us to continue executing our strong pipeline of deals and organic growth initiatives. We are very pleased to welcome Oaktree as a financial partner to accelerate our next stage of growth.

Raghav Khanna, Managing Director and Co-Portfolio Manager of Oaktree’s Strategic Credit Strategy, said, “We are delighted to partner with Fairbridge as it executes its growth strategy of providing innovative lending solutions. relay to commercial real estate borrowers. Fairbridge has a strong and experienced management team and a compelling history. We believe the company is well positioned to be a leader in this rapidly growing segment of the real estate market. »

Paul Hastings LLP served as counsel to Oaktree and Hunton Andrews Kurth LLP served as counsel to Fairbridge.

About Fairbridge Asset Management

Fairbridge is a vertically integrated real estate private equity firm specializing in real estate lending strategies. Fairbridge seeks leveraged investments by originating senior secured loans, mezzanine loans and preferred equity investments for the construction, acquisition and refinancing of commercial real estate, and by acquiring non-performing loans and investments in preferred shares. Fairbridge provides fast, flexible and creative financing solutions for real estate professionals looking to capitalize on opportunistic real estate transactions. Fairbridge is a portfolio lender and manages several investment vehicles. For more information, please visit Fairbridge’s website at http://FairbridgeLLC.com.

About Oaktree

Oaktree is a leader among global investment managers specializing in alternative investments, with $166 billion in assets under management as of December 31, 2021. The firm emphasizes an opportunistic, value-driven, risk-controlled approach for investments in credit, private equity, real estate assets and listed shares. The company has more than 1,000 employees and offices in 20 cities around the world. For more information, please visit Oaktree’s website at http://www.oaktreecapital.com/.

Steve Wissack
Fairbridge Asset Management
+1 9145889063
write to us here

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What you need to know before signing your student loan agreement https://apairof.com/what-you-need-to-know-before-signing-your-student-loan-agreement/ Fri, 08 Apr 2022 04:47:11 +0000 https://apairof.com/what-you-need-to-know-before-signing-your-student-loan-agreement/ Many people who sign their student loan agreement don’t know what they’re getting into. Tony Aguilar, who has six figures in student loans, has dedicated his career to helping people find long-term solutions. He suggests applying for more scholarships and asking about Parent PLUS loans. Read more stories from Personal Finance Insider. Loading Something is […]]]>
  • Many people who sign their student loan agreement don’t know what they’re getting into.
  • Tony Aguilar, who has six figures in student loans, has dedicated his career to helping people find long-term solutions.
  • He suggests applying for more scholarships and asking about Parent PLUS loans.
  • Read more stories from Personal Finance Insider.

Federal student loan repayments may be suspended until Aug. 31, but 7.4 million borrowers under age 25 hold $102.9 billion in federal student loan debt, according to Federal Student Aid.

Tony Aguilar, CEO and co-founder of an app called Chipper that helps borrowers choose the best repayment plans for their federal and private student loans, insists the best solution is to avoid borrowing money. money for college in the first place.

Aguilar himself took out six-figure student loans to pay for his degree. He tells Insider, “The first experience I had was getting the multiple letters in the mail after that six-month grace period. I had 18 different loans from four different servicers when I left the company. school. I had a mix of federal and private loans, and I was in shock at having to pay $1,200 a month.”

Since then, Aguilar has dedicated his career to finding long-term solutions to the student debt crisis, helping 5,600 people get their student loans forgiven through the Public Service Loan Forgiveness Program.

He tells Insider three important things you need to know about student loans before signing your student loan agreement.

1. You can ask your school for an additional grant

Aguilar says, “Make sure you’ve maximized the amount of grants and awards you can get from your school.” He explains that when many people first receive their financial aid, they believe that everything on that piece of paper is set in stone. Aguilar encourages people to apply for more money from the financial aid office. He says, “There’s so much money sitting there in the schools just because people don’t find out about it.”

He recommends using the following script: “I want to maximize the amount of scholarships I qualify for. Are there other scholarships available before I take out other student loans?”

2. You can withdraw from Parent PLUS loans

A Parent PLUS Loan is a federal loan that parents take out for their children’s college tuition. Aguilar says Parent PLUS loans are automatically included in many borrowers’ financial aid packages, but most people don’t know you can opt out.

He says, “I personally wouldn’t want my parents to automatically go into debt, especially when those interest rates hit 7.9% and they have to start paying immediately.” If you want to go this route, Aguilar suggests telling your financial aid office, “I don’t want my parents getting PLUS loans. I’d rather put them under my name.”

3. You can start paying off your loans while you’re in school

Aguilar says, “A lot of people believe you can’t pay off your loans or contribute while you’re in school, but this is a huge opportunity to reduce the amount of interest that will accrue by the time you graduate.”

Making student loan payments while you’re in school can reduce the monthly payments you make after you graduate. In addition, you have the advantage of reducing the amount of interest accrued over the long term. Other than subsidized federal loans, most loans start earning interest the day the funds are disbursed to the school.

Aguilar says, “If you can reduce your debt and start contributing to your debt bit by bit, definitely do it while you’re in school.”

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Whitehorse Gold has entered into a loan agreement with right of first refusal to acquire a high-grade gold project in Guinea https://apairof.com/whitehorse-gold-has-entered-into-a-loan-agreement-with-right-of-first-refusal-to-acquire-a-high-grade-gold-project-in-guinea/ Tue, 05 Apr 2022 10:55:00 +0000 https://apairof.com/whitehorse-gold-has-entered-into-a-loan-agreement-with-right-of-first-refusal-to-acquire-a-high-grade-gold-project-in-guinea/ Vancouver, British Columbia–(Newsfile Corp. – April 5, 2022) – Whitehorse Gold Corp. (TSXV: WHG) (OTCQX: WHGDF) (“Whitehorse Gold” or the “Company”) is pleased to announce that it has entered into a loan agreement (“Loan Agreement”) with a private Guinean gold mining company which holds certain mining concessions and licenses located in Guinea (the “Properties”), in […]]]>

Vancouver, British Columbia–(Newsfile Corp. – April 5, 2022) – Whitehorse Gold Corp. (TSXV: WHG) (OTCQX: WHGDF) (“Whitehorse Gold” or the “Company”) is pleased to announce that it has entered into a loan agreement (“Loan Agreement”) with a private Guinean gold mining company which holds certain mining concessions and licenses located in Guinea (the “Properties”), in exchange for a four-month exclusive right to negotiate a stock option agreement to acquire a 100% interest in the Guinean gold mining company (the “Borrower”).

Loan details

Pursuant to the loan agreement, the Company advanced a loan of US$250,000 to the borrower, primarily for the payment of government taxes on title to the properties. As security for the loan, the borrower has pledged its shares in the wholly owned subsidiary which holds title to the properties. The loan has a two-year term and 5% interest.

ABOUT WHITEHORSE GOLD CORP.

Whitehorse Gold is a mining exploration company focused on its 170 km2 Gold project located in southern Yukon, approximately 55 km south-southwest of Whitehorse. The project hosts the advanced-stage deposits of Skukum Creek and Goddell, as well as the former high-grade gold mine of Mt. Skukum, all of which remain open for expansion, as well as other untested mineralized occurrences . The project infrastructure includes an all-weather access road, a 50-person camp, approximately 6 km of underground development and a previously operating 300 tpd plant and associated support facilities. From 1986 to 1988, underground operations by a former operator at Mount Skukum saw 233,400 tonnes of ore mined and processed to recover approximately 79,750 ounces of gold (Total Energold Corporation, 1989). The company is also reviewing other mining assets in jurisdictions that provide year-round access.

On behalf of Whitehorse Gold Corp.

signed “Gordon Neal”

Gordon Neal, CEO and Director

For more information, please contact:
Investor Relations, Whitehorse Gold Corp.
Phone: 604-336-5919
Email: info@whitehorsegold.ca
www.whitehorsegold.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

DISCLAIMER – FORWARD-LOOKING STATEMENTS

Certain of the statements and information contained in this press release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian provincial securities laws. Any statement or information that expresses or involves discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions, or future events or performance (often, but not always, using words or expressions such as “expects”, “is planned”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “timeframes”, “potentials” or variations thereof or indicating that certain actions, events or results “could”, “could”, “would”, “could” or “would” be taken, occur or be achieved, or the negative form of any of these similar terms and expressions) are not statements of historical fact and may be statements or Forward-Looking Information Forward-looking statements or information relate to, among other things: the price of gold and other metals ; the accuracy of mineral resource and mineral reserve estimates at the Company’s material properties; the adequacy of the capital of the Company to fund the operations of the Company; estimates of the Company’s capital expenditures; timing of receipt of permits and regulatory approvals; the availability of funds from production to finance the Company’s operations; and the access to and availability of financing for future construction, use of the proceeds of any financing and development of the Company’s properties.

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limited to social and economic factors. impacts of COVID-19; risks related to: fluctuations in commodity prices; calculation of resources, reserves and mineralization and recovery of precious and base metals; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and licenses; property title ; property interests; joint venture partners; the acquisition of commercially exploitable mining rights; funding; recent events and market conditions; economic factors affecting the Company; the timing, estimated amount, capital and operating expenditures and economic returns of future production; the integration of future acquisitions into the Company’s existing business; competition; political operations and conditions; regulatory environment in Canada and Guinea; environmental risks; legislative and regulatory initiatives addressing global climate change or other environmental concerns; exchange rate fluctuations; Assurance; risks and hazards of mining operations; key personnel; conflicts of interest; dependence on management; internal control of financial information; and bring actions and enforce judgments under United States securities laws.

This list is not exhaustive of factors that could affect the Company’s forward-looking statements or information. Forward-looking statements or information are statements about the future and are inherently uncertain, and the actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety risks, uncertainties and other factors, including, without limitation, those mentioned in the Company’s Annual Information Form for the year ended December 31, 2021 under the heading “Risk Factors”. Although the Company has attempted to identify important factors that could cause actual results to differ materially, other factors may cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information.

The Company’s forward-looking statements and information are based on management’s assumptions, beliefs, expectations and opinions as of the date of this press release, and except as required by applicable securities laws, the Company assumes no obligation to update – forward-looking statements and information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other event affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119238

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Global Blue announces amendment to its loan agreement https://apairof.com/global-blue-announces-amendment-to-its-loan-agreement/ Wed, 30 Mar 2022 12:04:00 +0000 https://apairof.com/global-blue-announces-amendment-to-its-loan-agreement/ EYSINS, Switzerland–(BUSINESS WIRE)–Global Blue Group Holding AG (NYSE: GB and GB.WS) announced today that, effective March 29, 2022, the existing additional $75 million liquidity facility that SL Globetrotter, LP and Global Blue Holding LP have made available to Global Blue Group Holding AG under the terms and conditions of a loan agreement dated September 30, […]]]>

EYSINS, Switzerland–(BUSINESS WIRE)–Global Blue Group Holding AG (NYSE: GB and GB.WS) announced today that, effective March 29, 2022, the existing additional $75 million liquidity facility that SL Globetrotter, LP and Global Blue Holding LP have made available to Global Blue Group Holding AG under the terms and conditions of a loan agreement dated September 30, 2020, as amended, has been further amended pursuant to an Agreement Amendment Letter. The amendment provides for an extension of the facility’s availability period under the amended agreement until July 8, 2022.

The proceeds of the liquidity facility are intended to finance the working capital needs of the Global Blue Group. Given the continued easing of COVID-19 related health restrictions and the consequent increase in international travel and purchases in many countries, Global Blue expects to draw on all or part of the liquidity facility in the coming months.

A copy of the Amendment may be obtained from the Securities and Exchange Commission’s website at www.sec.gov or from the investors section of the Company’s website at Global Blue Group Holding AG – Investor Relationships.

ABOUT GLOBAL BLUE

Global Blue offers innovative solutions in three different areas:

  • Tax Free Shopping: Helps retailers in over 300,000 outlets efficiently manage 35 million Tax Free Shopping transactions per year, thanks to its fully integrated in-house technology platform. Meanwhile, its industry-leading digital tax-free shopping solutions create a better and more seamless customer experience.

  • Payment Services: Providing a full suite of foreign exchange solutions and payment technologies that enable acquirers, hotels and retailers to deliver value-added services and enhance the customer experience at 31 million payment transactions per year at 130,000 interaction points

  • Complementary RetailTech: offering new technology solutions to retailers, including digital receipts and e-commerce returns, which can be easily integrated into their core systems and allow them to optimize and digitize their processes throughout the customer journey omnichannel, both in-store and online

Additionally, our data and consulting services offer strategic advice to help retailers identify opportunities for growth, while our customer experience and engagement solutions provide data-driven solutions to increase footfall, convert attendance into revenue and improve performance.

FY 2019-20 pre-pandemic figures.

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Romgaz has signed a loan agreement worth 325 million euros for the partial financing of the acquisition of EMEPRL shares – The Diplomat Bucharest https://apairof.com/romgaz-has-signed-a-loan-agreement-worth-325-million-euros-for-the-partial-financing-of-the-acquisition-of-emeprl-shares-the-diplomat-bucharest/ Wed, 30 Mar 2022 10:52:41 +0000 https://apairof.com/romgaz-has-signed-a-loan-agreement-worth-325-million-euros-for-the-partial-financing-of-the-acquisition-of-emeprl-shares-the-diplomat-bucharest/ Romgaz, Romania’s largest natural gas producer, announced today that it has signed a financing agreement worth €325 million with Raiffeisen Bank. Romgaz will use the loan to partially finance the purchase price that will be paid for all shares issued by Exxon Mobile Exploration and Production Romania Limited (EMEPRL), which owns 50% of the rights […]]]>

Romgaz, Romania’s largest natural gas producer, announced today that it has signed a financing agreement worth €325 million with Raiffeisen Bank. Romgaz will use the loan to partially finance the purchase price that will be paid for all shares issued by Exxon Mobile Exploration and Production Romania Limited (EMEPRL), which owns 50% of the rights and obligations related to the Neptun Deep perimeter.

The €325 million loan facility has a five-year maturity and is tied to Romgaz’s overall financial performance.

Aristotel Jude, General Manager of Romgaz, said: “The signing of this financing agreement is necessary to achieve an important objective assumed in the development strategy of Romgaz for the period 2021-2030, respectively to finalize the acquisition of EMEPRL shares. holding 50% of the rights and obligations related to the perimeter of Neptune Deep. This is a first step that proves our determination to maintain Romgaz as the most important player on the Romanian gas market and to position ourselves strategically in the current geopolitical context. The development and exploitation, as soon as possible, of the fields with commercial potential of the Neptun Deep perimeter will ensure the addition to Romanian natural gas production of considerable volumes which will, without a doubt, support the security of gas supply. natural of the country.”

“The €325 million financing agreement we have reached with Romgaz is an example of our commitment to supporting the transition process towards a greener economy, enabling companies to implement their sustainable strategies,” said Catalin Cepisca, Senior Director Raiffeisen Bank. “The transition to a zero-emission energy system is possible with strict energy standards, which guarantee security of supply in the region throughout the process. We are delighted to be the lead corporate bank for the company and see this significant facility as a clear indication of our support for the energy sector,” he concluded.



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Default on the maturities of a loan contract: When does a creditor’s claim become time-barred? https://apairof.com/default-on-the-maturities-of-a-loan-contract-when-does-a-creditors-claim-become-time-barred/ Wed, 30 Mar 2022 07:00:00 +0000 https://apairof.com/default-on-the-maturities-of-a-loan-contract-when-does-a-creditors-claim-become-time-barred/ Acceleration clauses are commonly found in loan agreements that require debtors to make installment payments. A standard acceleration clause provides that if a debtor fails to pay a due date, the creditor may choose to terminate the loan agreement and demand payment of the full amount due under the agreement. The question of prescription in […]]]>

Acceleration clauses are commonly found in loan agreements that require debtors to make installment payments. A standard acceleration clause provides that if a debtor fails to pay a due date, the creditor may choose to terminate the loan agreement and demand payment of the full amount due under the agreement.

The question of prescription in the context of acceleration clauses recently arose before the Court of Cassation (“SCA“) in the case of Standard Bank of South Africa Ltd v Miracle Mile Investments 67 (Pty) Ltd and another [2016] 3 All SA 487 (SCA). The SCA was confronted with this question in particular: does the prescription on all the sums advanced begin to run when the creditor chooses to enforce the forfeiture clause or when the debtor is in default of payment of a deposit?

In this case, in 2005, the creditor, the Standard Bank of South Africa (“the bank”), advanced a line of credit to an individual debtor with a maximum value of approximately R14 million. The respondents, two companies, guaranteed the principal debt and allowed the registration of certain hypothecary sureties on their buildings, as security for the principal debt. The loan agreement included an acceleration clause which gave the bank the choice to terminate the agreement and accelerate the debt in the event of default by the debtor.

The debtor took advantage of the facility and defaulted. The debtor was then placed in provisional receivership. In 2013, the bank sued the respondents to collect the debt and declare the mortgaged property specially enforceable. The respondents then sought an order requiring the bank to consent to the cancellation of the mortgage bonds on the grounds that the claim against the debtor, and therefore against the respondents, had become statute-barred in October 2011, three years from the date on which the debtor has not paid the installments. The bank denied that the statute of limitations had started to run.

The parties conceded that a letter from the bank to the debtor, delivered in August 2008 under section 129 of the National Credit Act 2005, constituted a request to the debtor to update the delinquent account. However, importantly, the bank did not choose in this letter to terminate the agreement and accelerate the debt.

The SCA noted that whether or not the debt was statute-barred depended on when it became “due”. Section 12(1) of the current Limitation Act 1969 provides: “Subject to the provisions of subsections (2), (3) and (4), limitation begins to run as soon as the debt is due(emphasis added).

The SCA found that in cases involving standard acceleration clauses in loan agreements, and contrary to case law under the old Limitations Act of 1943, the debt becomes “due” when the creditor chooses to terminate the loan agreement and accelerate the debt. Indeed, the election is a necessary precondition to the cause of action for claiming the full amount owed. The SCA found that the policy considerations referred to in the old statute of limitations case law, which argued against allowing a creditor to delay limitation by delaying its election, did not outweigh the clear wording of current statute of limitations.

While the creditor decides whether or not to opt for debt acceleration, the statute of limitations begins to run on individual arrears maturities. If the election to accelerate the debt is not exercised, the creditor can wait until all payments are due before suing the debtor. However, prior installments may have been barred as of the date the action is brought, as each installment is a separate cause of action arising as it becomes due.

The SCA therefore considered that if the bank wished to accelerate the debt, it should put the debtor on notice to remedy the non-payment and, in default of payment by the debtor, the bank should choose to terminate the facility and claim reimbursement of the total amount due under the loan agreement. The first notice was given when the letter was delivered under Section 129, but the last notice was not given.

The election and the communication of the election were prerequisites to the cause of action, and in this case they did not occur. The SCA therefore found that since the bank did not choose to terminate the facility and claim reimbursement of the outstanding balance, the prescription did not start to run on the claim for the full amount in October 2008. The prescription does not would only begin on the date the bank gave notice of the election and claimed the full amount. The appeal was therefore allowed with costs.

What lenders can learn from this judgment

Lenders should carefully consider whether the acceleration clauses of their loan agreements include a choice whether or not to accelerate the debt. If there is an intention to choose to accelerate the debt, the choice must be clearly stated in the loan agreement.

Where the debtor is in default, then the election must be exercised by following the procedural prerequisites, such as the debtor’s written demand to pay or the creditor’s written notice of the exercise of the election. Only then will the cause of action be complete (making the full amount claimable) and the statute of limitations begin to run.

While the creditor decides whether or not to exercise the choice, prescription runs on the various installments that have not been paid. It is important to make the choice in time and not to prescribe claims on individual installments.

If no choice is provided for in the acceleration clause and the debt is automatically accelerated in the event of default by the debtor, the limitation period will begin to run in default. The recovery action must then be brought within three years from the date of default.

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