JAKARTA, Indonesia, /PRNewswire/ -- KinerjaPay Corp., (KPAY), would like to share updates about the financing process. Finalizing the receipt of the initial HSBC bank guarantee from Gabriel Capital Ltd has taken slightly longer than anticipated. We believe that all the minor complications have been cleared and we should receive the first guarantee over the next week. It is important to stress that securing the monetizing bank is the hardest and most crucial part of the process of using this method of financing. Our non-recourse credit facility with China Construction Bank Indonesia is firmly in place. The announcement of this facility has attracted several other collateral suppliers to want to deliver the first $25 million major bank guarantee. All of these suppliers are agreeing to the same investment terms. The numerous other investors highlight the value of securing the monetizing bank. Gabriel is still the most likely supplier. Mr. Edwin W. Ng, CEO of KinerjaPay Corp. commented "We feel that we are at the end of this very complex process and look forward to receiving the beginning of this significant capital infusion. We are excited that other investors agree that securing a monetizing bank has made KPAY an attractive investment."
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