INSCOR, Inc. Corporation (PINKSHEETS: IOGA) Chairman Keith McAllister
announced this morning that INSCOR has entered into a Joint Cooperation
Agreement with Skyjet Airways Private Limited. According to the terms of
this binding agreement, INSCOR shall make the cash-backed collateral
whose receipt it announced on October 31, 2014 available to Skyjet, and
Skyjet shall in turn provide INSCOR with access to its confirmed lines
of credit. By cooperating with each other, both INSCOR and Skyjet are
each able to access up to $50 million in secured debt financing, to be
used for the roll-out of their business plans and the expansion of their
offered products and services.
INSCOR Chairman Keith McAllister noted this morning “our cooperation
with Skyjet allows us to access needed capital in a more expedient
manner, while also opening the door toward building an expanded network
of long-term and lasting banking relationships.”
Founded in 2013, Skyjet Airways Private Limited is a Republic of
India-based scheduled airline utilizing a fleet of Airbus 320 aircraft.
Skyjet Director Nawal Kishore lauded today’s announcement, highlighting
the mutual benefits to be derived from cooperating with INSCOR and
stressing the difficulty and importance of accessing acceptable
collateral necessary to obtain secured debt financing.
About INSCOR, Inc.
INSCOR, Inc. specializes in the creation and implementation of flexible
and effective insurance solutions for organizations serving as many as
tens of millions of members across the globe. In the U.S., the Company
markets its FIT OPEB plan to municipalities and corporations as a
low-cost solution to funding retiree and other employee benefits. A
Financed Insurance Trust plan variation also works for affluent
individuals, entertainers and professional athletes -- whether for
estate planning or funding cash flow needs. INSCOR's strategy uses a
combination of favorable financing terms, innovative uses of specific
life insurance products and trusts -- all of which result in minimum
levels of out-of-pocket costs for producing significant future funding
and revenue stream opportunities.
Copyright Business Wire 2014