RE:All goodAgree NineLives, however gut reaction for many would be, “Seems to me I’ve heard this song before.” I refer to the 3 million line-of-credit activated a couple of years ago. On this go-around, what would constitute a lucky charm to crank things up at GSI in this instance? Calling to mind the movie, My Cousin Vinny, -for him to pass the bar, 5 times was the lucky charm. Let’s hope we don’t have to wait for a number like that.
But there are considerable differences now compared to the last LOC, -scale for one, now 8M versus the old 3M, -and the prospects!!!
Similarities of course would be the TD bank, -again, and its willingness to renew at these higher levels. Don’t know whether old credit arrangement was merely dusted off and given a makeover to fit the newer circumstances. I suspect so.
It ain’t interest rates or a rising rates that are at issue here. Like the old tyme “letter of introduction,” without which you could not wiggle or breathe. When you’ve been vetted by a major bank that speaks volumes to the people you do business with on the other end. And from a transactional side, - in overseas markets etc. you need a banker’s know-how.
Shall we move on from GSI pulling the dough out of its shoe and recognize that it is moving to a faster lane with this arrangement?