With the value of $300 million and a term loan commitment
in the amount of $200 million, this new credit facility comprises of a rotating loan commitment
First, a loan commitment
gives a company the option to borrow a certain amount in the future, while a loan actually provides funds to the borrower.
announces it has signed a $21,000,000 loan commitment
to refinance the 285-unit second phase of its Addison Place apartment community for ten years at a fixed interest rate of 6.
Schneider obtained a commitment letter from the banks, under which they agreed to provide acquisition financing; as consideration, Schneider agreed to pay a nonrefundable loan commitment
fee and to indemnify the banks for any legal fees associated with the commitment of funds.
Earlier in the autumn of 1998, Nissan secured a similar one-year loan commitment
from a group of 10 Japanese banks, led by IBJ.
More recently, Sunrise received an $88 million long term Freddie Mac loan commitment
That allowed the agency to retain a loan commitment
from the state Housing Finance Agency.
A policy research panel at the ruling Liberal Democratic Party (LDP) has begun debating legal changes aimed at making it easier for banks to set up loan commitment
lines as a way to resolve the credit crunch, party officials said Wednesday.
In the yen currency, Japan's loan commitment
for 1997/1998 is even higher than that for 1996/1997 although in the US dollar currency it is lower as a result of the appreciation of the US dollar against the yen.
The closing of the new loan facility shows that Merck has a very good reputation among its banks owing to its strong position, and that a long-term loan commitment
can be obtained with good terms and conditions despite the current financial market turbulence," said Matthias Zachert, CFO of the Merck Group.
BULLETIN BOARD: ELSF) said today that it signed a loan commitment
from a private investor group for $1,500,000 to provide the company with increased financial flexibility.
A loan commitment
is the obligation of a lender to make loans or issue letters of credit pursuant to a formal loan agreement.