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The ICB obtained the first installment of the capital market re-financing scheme worth Tk 3.
This re-financing allows for the return of significant capital to investors in less than one year, while leaving the Company well positioned to deliver on its strong prospects both in its current markets and as it expands into newer emerging markets in Asia and South America.
Couple this with an anticipated increase in M&A activity and the continued constraints within the banking sector and you have a re-financing 'perfect storm' gathering on the horizon.
BEIRUT: Caretaker Finance Minister Raya al-Hasan warned Thursday that a high deposit dollarization rate posed a grave risk to the government's re-financing needs, adding that a debt restructuring plan was currently being designed because the "Central Bank can't continue to finance Lebanon's public debt indefinitely.
According to Clarke, last year's re-financing had allowed Burton's to increase investment in three key areas--brands and own-label in the UK; its export business; and upping capital investment.
Keane, 54, of Glasgow, denied a single charge, alleging that between October 1999 and April 2001 he got overdrafts, a bank guarantee, loans and re-financing from the Royal Bank of Scotland.
Mr Worrall said: "It is true that in the current climate we are seeing different areas of the market coming into play, with less deal-related due diligence and far more support for bank re-financing and debt re-structuring initiatives.
The re-financing of the business has also put paid to plans by chief executive Steve Smith to take early retirement, and he will now stay put for another two years after stating that he would stand down at the end of this month.
The rising cost of re-financing, higher provisions and the slowing down economy have been blamed as the main reasons for the decline, but the figure still represented a 1.
He proposed to make improvements with regard to carpet export by establishing more warehouses for storage purposes, holding special exhibitions for the Carpet industry and providing export re-financing.
Last year, Kingdom Holding announced the sale of Legacy Hotels Real Estate Investment Trust (REIT) for a sale value SR5 billion with sale proceeds of SR740 million going to KHC , Swissotel Sydney in Australia for a sale value SR281 million, re-financing of the Four Seasons George V hotel in Paris with net cash proceeds valued at SR285 million going to KHC , the re-financing of the Hotel des Bergues, Geneva in the amount of SR375 million and announced the sale of the Four Seasons Hotel, London for SR550 million.
The re-financing is required due to a combination of a capital cost overrun on