Deutsche Bank's admission it anguished over extending repayment dates
on loans to the Trump Organization is raising speculation about the true financial health of this conglomerate founded by Donald Trump.
The credit facility has a five-year maturity with no fixed repayment dates
prior to the end of the five-year term ending in January 2024.
"They have asked to extend repayment dates
and cut the interest rates of loans.
Amortization Post-ARD: In the event the loans are not paid off prior to their anticipated repayment dates
in March of 2018 and March of 2023, all excess cash flow will be swept to pay down the remaining loan balance.
The ratings agency's sensitised cashflow projections show that SPG's minimum Sukuk Service Coverage Ratio (with cash balances, post-distribution, calculated over a 12-month period on semi-annual principal repayment dates
) would be around 1.50 times throughout the Sukuk's remaining tenure.
The legal final maturity date of the notes is in June 2045, but, unless earlier prepaid to the extent permitted under the indenture that will govern the notes, the anticipated repayment dates
of the Class A-2-I notes, the Class A-2-II notes and the Class A-2-III notes will be 4.25, 7 and 10 years, respectively.
The new agreement extends the facility's term, including its repayment dates
, while the amount and the interest rates remain the same as in the previous agreement announced on 11 April 2012.
As such, the financings will be flexible using various structures to meet borrowers' needs including longer maturities and more deferred repayment dates
than those typically seen in traditional lending.
Pike River Coal Ltd (PRC.NZ), a New Zealand-based coal mining company, has announced that its two main lenders have agreed to extend loan repayment dates
Always check original paperwork and contact your loan firm to check repayment dates
The commission is determined to establish whether the money was provided on fully commercial terms - with a market rate of interest and set repayment dates
- or if they were "soft" loans, in which case they must, by law, be declared publicly.