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$100 is roof, and it could be lower

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Emilez Member Profile
 
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Emilez   Saturday, 12/09/17 10:36:00 AM
Re: aquaculture post# 125696
Post # of 128801 
Quote:
$100 is roof, and it could be lower if in theory the board in one bank turns it down. I think that wont happen.



Yeah and it also seems to be divided up in three different parts. I wonder of that affects how easy it is to use the money for SIAF.

Syndicated facility

Standby letter of credit https://www.investopedia.com/terms/s/standbyletterofcredit.asp it seems this cannot be used for capex. However it might provide the margin of safety that SIAFs management always fail to have. So it is quite good that the bank might be able to impose some discipline to the management of Tri-way.

Trust receit https://www.investopedia.com/terms/t/trust_receipt.asp can possibly be used for capex.

Line of credit https://www.investopedia.com/terms/l/lineofcredit.asp can be used for capex.



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