GREY:WFEMF - Post by User
Post by
mercurysmithon Jun 28, 2012 3:28am
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Post# 20062563
Bank debt not subject to IMC...
Bank debt not subject to IMC... This just means the debt financing will not need an IMC co-signing or guarantee. .Instead, the debt will be secured by equity in the company in default of payment. I still have no doubt the bank isn't advancing any money before IMC confirms the offtake is complete and binding. It does mean that some of the debt financing could potentially become available even before any of the IMC money is advanced. This is good news.