Areva will need to repay the bridging loan in Jan.
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The German government said it was considering an application for a bridging loan from Thomas Cook Germany, a day after it said it would guarantee a 380 million euro ($418 million) bridging loan for Condor, the British group's German airline.
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One of the bridging loan tranches, worth HK$2.5 billion ($320 million), was due on Monday, LPC said.
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The transaction, led by Citigroup and HSBC, was to refinance a bridging loan held by its Italian telecoms subsidiary Wind Tre.
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That has left the German company relying on an expensive 22.5 billion euro ($23 billion) bridging loan agreed with banks in December.
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Italy is also considering the option of indefinitely delaying repayment of a 900 million euros state bridging loan to Alitalia, the source added.
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Barclays, BNP Paribas, Societe Generale, Citi, Unicredit, HSBC, Bank of Tokyo Mitsubishi and Mizuho all offered up to 2.5 billion euros in the bridging loan.
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The airline, also 26.7 percent owned by Air France KLM , drew down half of its $200 million bridging loan with Cairo-based Afreximbank last year.
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Condor, a German airline and subsidiary of Thomas Cook, had better luck, securing a bridging loan backed by the German government to keep it flying.
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It has also said a bridging loan of 150 million euros ($180 million) the government had granted Air Berlin did not breach anti-trust rules.
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The AMS bid includes a 4.2 billion euro bridging loan facility underwritten by UBS and HSBC, which AMS plans to refinance by issuing debt and equity.
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An economy ministry spokeswoman also said a bridging loan of 150 million euros ($175.5 million) the government has granted Air Berlin did not breach anti-trust rules.
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On filing for insolvency last month the Berlin government promptly granted Air Berlin a 150 million-euro bridging loan to keep the airline flying for three months.
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After it filed for insolvency last month the Berlin government granted Air Berlin a 150-million-euro bridging loan to keep the airline flying for three months.
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The government is expected to scrap on Wednesday an end-June deadline for a 300 million euro bridging loan to Italy's flagship carrier Alitalia, several newspapers said.
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AMS had indicated that it could fund a bid thanks to a temporary 4.2 billion euro ($4.7 billion) bridging loan facility and plans for a capital increase.
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A German economy ministry spokeswoman said a bridging loan of 150 million euros ($175.5 million) the government had granted Air Berlin did not breach anti-trust rules.
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The diversified mining company closed the syndication of the bridging loan underwritten by Citi and HSBC who will also act as mandated lead arrangers and book runners.
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The German government had also criticized the Commission's position earlier this month, forecasting that only part of the bridging loan from the KfW bank would be repaid.
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The German government said on Tuesday it would guarantee a 380 million euro ($418 million) bridging loan for the group's German airline, Condor, to keep it flying.
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The German government agreed then to provide Air Berlin with a 150 million euro ($179 million) bridging loan to ensure that flights continue for a further three months.
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On January 29th Argentina's central bank announced that it had secured a $5 billion bridging loan from a group of international banks, including HSBC, JPMorgan Chase and Santander.
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DBS said in a statement that it had provided financing in the form of a bridging loan to be repaid upon the expected equity injection from the investor.
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Early in 2016 Areva has also drawn 1.93 billion euros of credit lines, while the bridging loan will provide total cash of 3.9 billion euros for this year.
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The company has only drawn about 8 billion euros of the 20 billion euro bridging loan and could continue to rely on the facility, two of the sources said.
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Osram said AMS had indicated that it could fund a bid thanks to a temporary 4.2 billion euro ($4.7 billion) bridging loan facility and plans for a capital increase.
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"This bridging loan will be made available via the KfW (state development bank) and backed by a federal guarantee," said the economy and transport ministries in a joint statement.
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Any delay in the planned rescue could force Areva to call on the state for a shareholder loan to repay a 1.2 billion euro bridging loan expiring in January.
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L German holiday airline Condor has asked the German government for a bridging loan, the airline said on Monday, adding it would continue operating despite its parent company's collapse.
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Its planes are being kept in the air thanks to a 150 million euro ($180 million) government bridging loan, which will last until the middle of November at the latest.
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Germany's state of Hesse, where collapsed travel group Thomas Cook's German airline Condor is located, said it is ready to help the airline's application for a federal government bridging loan.
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Banks which have committed to the larger of two tranches in the bridging loan will be rewarded by getting roles in organizing the return to the debt market, the sources said.
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It has already agreed a bridging loan of €300m-€400m, to keep Alitalia aloft in case a buyer can be found (although why any firm would want it is anyone's guess).
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BERLIN (Reuters) - A legal challenge against Berlin's decision to grant a state bridging loan for insolvent airline Air Berlin won't stop dispersal of the funds, the German government said on Tuesday.
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In the meantime Rome will indefinitely delay the repayment of a 900 million euro state bridging loan to Alitalia which was due on June 30, a document seen by Reuters shows.
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Two sources in the financial industry told Reuters that VW had drawn up to half of the loan by the summer, but the carmaker said the bridging loan was currently undrawn.
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VTB Capital, the investment-banking arm of Russia's second-largest bank, launched the sale after a default on a 150 million euro bridging loan to an indirect holding company of Vivacom.
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Thomas Cook's UK airline immediately folded when the company went into administration, although its German Condor airline is still flying and has been offered a bridging loan by the German government.
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FRANKFURT (Reuters) - The European Commission on Monday approved a German bridging loan for Air Berlin that will keep the insolvent airline's planes flying while it tries to find buyers for its assets.
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"We don't have an immediate need for external financing," Steiner said, adding that the Swiss company will be able to arrange financing to replace the bridging loan when the timing is right.
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Condor, which has remained profitable, has drawn interest from suitors after Germany granted a 380 million euro ($419 million) bridging loan to avoid insolvency following the collapse of parent company Thomas Cook.
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VTB Capital, the investment banking arm of Russia's second-largest bank, launched the sale after a default on a 150 million euro bridging loan to an indirect holding company of Vivacom, InterV Investment.
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The company said in July that if its capital increase were delayed, it would call on the state for a shareholder loan to repay a 1.2 billion euro bridging loan expiring in January.
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N) is willing to provide 7 billion euros ($7.8 billion) in a bridging loan to a vehicle that would buy bad loans from Italy's third-largest lender, Monte dei Paschi di Siena (BMPS.
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When the German carrier Air Berlin came close to bankruptcy in 2017, the government granted the airline a bridging loan of 150 million euros, about $165 million, that allowed it to continue flying.
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Asked about the two loans, DBS said in a statement that it had provided financing in the form of a bridging loan to be repaid upon an expected equity injection from an investor.
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British Foreign Secretary Boris Johnson told Reuters this week London was thinking about extending a bridging loan to Harare to allow this to happen, although said it depended on "how the democratic process unfolds".
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The HNA unit said in Monday's statement that the bridging loan maturity was being extended to July 15 because it needed "extra time to complete arrangement" for the development of the Hong Kong land.
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Alitalia's rescue hopes received a boost on Thursday with signs that Lufthansa could take a stake in the Italian carrier, while Rome agreed to a 350 million euro bridging loan to ease immediate cash worries.
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The German government granted a bridging loan of 150 million euros to allow Air Berlin to keep its planes in the air for three months and secure the jobs of its 7,200 workers in Germany.
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Germany will guarantee a 380 million euro bridging loan for Condor, the German airline owned by insolvent British travel operator Thomas Cook, to enable it to continue flying and save jobs, the economy minister said.
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In an emergency decree that must be converted into law at the end of June, the government has already indefinitely delayed the repayment of a 900 million euro state bridging loan it gave to Alitalia.
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Volkswagen (VW) has taken no decision yet on whether to seek an extension of a 20-billion euro ($21.84 billion) bridging loan agreed with banks last December, the CFO said, noting the facility has been undrawn.
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The consortium will provide a 20173 million pound ($25 million) bridging loan facility to support Flybe's working capital requirements and up to 80 million pounds of funding would be made available once the deal was completed.
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"If Axa was forced to postpone the IPO and needed to draw down on the bridging loan, incremental cash remittance from the Swiss transaction would help to repay any short-term increase in debt," they said.
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The debt will be used to repay a bridging loan related to its buyout of the remaining 36.4% stake in equensWorldline, taking advantage of the bouyant investor interest in both acquisition finance and the payments industry.
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Schmolz & Bickenbach has a bridging loan of 50 million euros ($62 million) after agreeing in January to buy French steelmaker Ascometal and also used part of a 375 million euro revolving credit facility for the deal.
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Areva said in a statement on Thursday its board had decided to delay the closing of its financial accounts for 2015 for 24 hours to finalise the technical documentation of the bridging loan from six banks.
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Machnig said Berlin had informed the European Commission of its decision to grant the company a bridging loan of 150 million euros to allow the airline to keep its planes in the air for three months.
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Singapore Airlines on Thursday became the latest to shore up its liquidity, courtesy of a S$2900bn (US$2514bn) equity raising underwritten by state investor Temasek Holdings and a S$218bn bridging loan from DBS Bank.
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BERLIN, Aug 15 (Reuters) - Germany has made a bridging loan of 150 million euros ($176.16 million) available to Air Berlin to ensure flights continue after the airline filed for insolvency, two German ministries said on Tuesday.
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BERLIN, Sept 24 (Reuters) - Germany has decided to guarantee a bridging loan of 380 million euros to Condor, the German airline owned by insolvent British travel operator Thomas Cook, Economy Minister Peter Altmaier said on Tuesday.
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CGT union member Bruno Blanchon said Areva had been looking at a bridging loan from a banking consortium or a loan from its state shareholder, but the government had waited until Tuesday to make its position clear.
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BERLIN, Sept 23 (Reuters) - Thomas Cook's German holiday airline Condor has asked the German government for a bridging loan, the company said on Monday, adding that it would continue its flight operation despite its parent company's insolvency.
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Osram said AMS, an Austrian technology company specialising in sensors and lighting, had indicated that it could fund a bid thanks to a temporary 4.2 billion euro ($4.7 billion) bridging loan facility and plans for a capital increase.
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The government granted a bridging loan of 150 million euros to allow Air Berlin to keep its planes in the air for three months and secure the jobs of its 7,200 workers in Germany while negotiations go on.
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ABIDJAN (Reuters) - Britain could take steps to stabilize Zimbabwe's currency system and extend a bridging loan to help it clear World Bank and African Development Bank arrears, but such support depends on "democratic progress", Foreign Secretary Boris Johnson said.
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Berlin has granted a bridging loan of 150 million euros ($175.68 million) to allow Air Berlin to keep its planes in the air for three months and secure the jobs of its 7,200 workers in Germany while negotiations continue.
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Under the deal, the consortium will provide a 20 million pound ($25 million) bridging loan facility to support Flybe's working capital requirements and up to 80 million pounds of funding would be made available once the deal is completed.
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The German government has granted a bridging loan of 150 million euros to allow Air Berlin to keep its planes in the air for three months and secure the jobs of its 7,200 workers in Germany while negotiations continue.
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The German government granted a bridging loan of 150 million euros to allow Air Berlin to keep its planes in the air for three months and secure the jobs of its 7,200 workers in Germany while negotiations go on.
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CARVE-UP The pressure is on to complete talks to carve up Air Berlin quickly because a 150 million euro ($176 million) bridging loan it received from the German government will keep its planes flying for only up to three months.
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The German government, which offered a bridging loan to keep Air Berlin flying until a deal could be done to sell its viable operations, held crisis talks with Lufthansa representatives on Thursday afternoon to discuss concessions to offer to Brussels.
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The source, who requested anonymity due to the sensitivity of the matter, told Reuters the government might lose the 150 million euros it lent to Air Berlin because the bridging loan was secured against the proceeds of the proposed sale.
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The German government has granted a bridging loan of 150 million euros ($176 million) to allow Air Berlin to keep its planes in the air for three months and secure the jobs of its 7,200 workers in Germany while negotiations continue.
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The German government has granted a bridging loan of 150 million euros ($176 million) to allow Air Berlin to keep its planes in the air for three months and secure the jobs of its 7,4.73 workers in Germany while negotiations continue.
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Unlike Thomas Cook, Condor received a lifeline from Germany in the form of a 380 million euro ($421.57 million) bridging loan and filed for investor protection proceedings, which requires that a company is not yet insolvent and can be saved.
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BERLIN (Reuters) - Germany will guarantee a 380 million euro ($13 million)bridging loan for Condor, the German airline owned by insolvent British travel operator Thomas Cook, to enable it to continue flying and save jobs, the economy minister said on Tuesday.
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Rome has thrown Alitalia a short-term lifeline, a bridging loan of up to 400 million euros to see it through a bankruptcy process, under which an administrator will decide if it can be sold as a going concern or should be liquidated.
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The affirmation of the ratings follows the company's confirmation that it has secured GP212001 million in construction finance for the development of its property project at One Grosvenor Square (1GSQ) in London's Mayfair, and successfully refinanced the bridging loan of GBP225 million.
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EasyJet Chief Executive Johan Lundgren has said the airline is looking at Thomas Cook's assets, although it is not interested in buying Condor, Thomas Cook's German airline, which is still operating and has been offered a bridging loan by the German government.
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Alitalia, put into special administration in 245 after workers rejected a previous rescue plan, needs to find investors ready to inject fresh funds by the end of April, in advance of an end-June repayment deadline for a state bridging loan of 900 million euros.
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Clark said the government had provided a short-term bridging loan of around 120 million pounds to British Steel, which in return will give the state its 2019 permits when they are released and these will be sold to return money to the taxpayer.
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Rome has thrown the crisis-hit airline a short-term lifeline, a bridging loan of up to 400 million euros ($436 million) to see it through a process whereby an administrator will decide if it can be sold as a going concern or should be liquidated.
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"The damages will be borne by creditors and German taxpayers, who will see nothing of the Air Berlin bridging loan in the amount of 150 million euros," said Hans Michelbach, deputy leader of the Bavarian CSU party in parliament and financial spokesman for the conservative bloc.
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Sibanye said last month that it had secured a loan of $2.65 billion to support the acquisition, after it closed the syndication of the bridging loan underwritten by Citi and HSBC, to acquire all of the outstanding common stock of Stillwater Mining for $18.00 per share in cash.
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With many Germans away on their summer holidays and a September election looming, Berlin has granted a bridging loan of 150 million euros ($176 million) to keep Air Berlin's planes in the air for up to three months and secure 7,200 jobs in Germany while buyers for its assets are found.
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"As shareholders, we were a little surprised at the level of exposure to a single entity in a precarious sector and by the recent additional bridging loan with, as it turns out, equally precarious safeguards," said Christopher Wong, senior investment manager in Aberdeen Asset Management Asia Ltd which owns DBS shares.
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"It (sudden closure) would be a shock for GDP (economic output) much greater than the scenario that we are looking at: a brief period of six months covered by a bridging loan from the government so as to find a buyer who could provide services that Italians need as travelers," he said in an interview with Sky TG24 television.
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Here are the latest stories: > British tour firm Thomas Cook collapses, stranding travellers > Thomas Cook's Condor to continue flying, seeks bridging loan > Thomas Cook collapse boosts rival holiday companies, airlines > Government should have saved Thomas Cook - UK Labour Party > Turkey could lose up to 700,000 tourists a year > Thomas Cook says 140,000 travelling with German subsidiaries > UK PM questions if Thomas Cook bosses 'properly incentivised' > 46 flights operated by Thomas Cook in Spain cancelled - AENA > Saga securing flights for customers hit by Thomas Cook collapse > Thomas Cook's collapse strands about 50,000 in Greece > Holiday firm On The Beach flags costs from Thomas Cook collapse > Labour says Thomas Cook bosses should pay back bonuses > Thomas Cook enters compulsory liquidation > Thomas Cook pensions to be assessed by lifeboat fund > Thomas Cook customers say hotel in Tunisia stopped them leaving > No one will be stranded, UK minister says on Thomas Cook future > TEXT-Thomas Cook CEO on liquidation: "I apologise" BACKGROUND > EXPLAINER-Thomas Cook collapses: Why and what happens next?
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What Is a Bridging Loan? Finance Monthly Magazine. 21 June 2018. Retrieved 27 November 2018.
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Leaflet produced by the Village Shop (2020) Charity Bank provided a £100,000 bridging loan to get the project going in 2003.
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21 October 2011. Retrieved 29 November 2018. A first charge bridging loan is generally available at a higher LTV than a second charge bridging loan due to the lower level of risk involved, many UK lenders will steer clear of second charge lending altogether. Lower LTVs may also attract lower rates, again representing the lower level of underwriting risk, although front-end fees, lenders legal fees, and valuation payments may remain fixed.
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Haill, O. Types of bridging loan and how they compare to alternatives. FT Adviser. Apr 18 2013. Open bridging loans are riskier to both the borrower and creditor due to the greater likelihood of default.
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Madeline Chambers and Joseph Nasr (August 15, 2017), Germany provides 150 million euro bridging loan to insolvent Air Berlin Reuters. In the negotiations to form a fourth coalition government under Chancellor Angela Merkel following the 2017 federal elections, Zypries led the working group on economic affairs, alongside Thomas Strobl and Alexander Dobrindt.
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In July 2015 the European Commission proposed to re-activate the EFSM to provide financing for a bridging loan to the government of Greece, in order to meet its immediate commitments including loan repayments to the IMF and ECB. In August, the loan of around €7 billion was fully repaid by Greece.
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Mr French was meant to relocate from Oxfordshire to Essex. He needed to sell his family home in Radley and buy another in Billericay. The staff manual at Barclays Bank plc said he would get a discretionary interest free bridging loan to let him complete the purchase of a new house before selling the old one. But, sadly, the housing market collapsed.
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The following day Johnson loaned £10 million to the business, and also provided a £10 million bridging loan to enable the company to execute a share placing, which occurred later the same day. On 22 January 2019, the firm announced that it had collapsed into administration following failed talks with banks, which the company stated was a "direct result of the significant fraud".
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For a housewife with a large family to look after it was a constant struggle to make ends meet. It was not uncommon for a family to have linen or clothes that they would pawn as a bridging loan until next payday. The struggling family could pawn their goods on a Monday and could buy them back the following Friday or Saturday.Wilkinson, John A. 'Pawnbroking in the Black Country'.
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On February 18, 2009, General Motors and Chrysler again approached the U.S. government, in regard to obtaining a second bridging loan of $21.6 billion (£15.2 billion). $16.6 billion of this would go to General Motors, while Chrysler would take $5 billion. General Motors agreed to shed 47,000 jobs, close five plants, and axe 12 car models. Chrysler agreed to cut 3,000 jobs, cut one shift from production, and axe three car models.
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The crisis in the United States is mainly defined by the government rescue of both General Motors and Chrysler. Ford secured a line of credit in case they require a bridging loan in the near future. Car sales declined in the United States, affecting both US based and foreign car manufacturers. The bridging loans led to greater scrutiny of the U.S. automotive industry in addition to criticism of their product range, product quality, high labour wages, job bank programs.
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The West One Bridging Index is calculated and published every two months (six editions per year), and consists of gross and net lending figures, number of loans (calculated on a 3-month moving average), average loan sizes, 1st charge loan to value (LTV), monthly interest rate fluctuations, and market predictions. It uses West One Loans’ management data, as well as statistics published by the Association of Bridging Professionals (AOBP) and other leading UK bridging loan lenders.
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The colliery was then managed under contract by Hargreaves Services plc. In 2013 70 of approximately 700 employees were made redundant after a return to a three shift pattern due to production issues. In December 2013 the employee controlled company Hatfield Colliery Partnership Limited (HCPL) purchased the mine from ING Bank. In late 2014 the National Union of Mineworkers provided the pit with a £4 million bridging loan whilst the pit move production to a new pit face.
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In 2005 the capital of Alitalia was increased by €1.6 billion, including an over €500mn bond float issued with the promise of a return to profit in 2006. (Unfortunately the year ended with a loss of €626 million). In 2008 the Italian government gave a bridging loan of €300mn to Alitalia. The government could in 2006 no longer offer support to the failing airline since it had been forbidden by the European Union to inject new capital.
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The bridging loan market remained small into the millennium, with a limited number of lenders. Bridging loans became increasingly popular in the UK after the 2008–2009 global recession, with gross lending more than doubling from £0.8 billion in the year to March 2011 to £2.2 billion in the year to June 2014. This coincided with a marked decline in mainstream mortgage lending in the same period, as banks and building societies grew more reluctant to grant home loans.Bridging loans guide .
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The company's history dates back to two institutions: Preußische Landespfandbriefanstalt (founded in 1922) and Deutsche Wohnstättenbank AG (founded in 1923), both of which were based in Berlin. Deutsche Wohnstättenbank AG was renamed Deutsche Bau- und Bodenbank in 1926. In the years of the Nazi rule, the bank grew rapidly thanks to the bridging loan business which mainly targeted the funding of settlement and housing construction. These sectors boomed following the massive increase of the armament industry that demanded accommodation for their workers, often designed as National Socialist ideal settlements.
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The West One Bridging Index (WOBI) is a collection of data intended to measure the state of the UK bridging market. Bridging is in effect a short-term loan designed to help a borrower obtain immediate funding to begin a particular project. In most cases, this loan is repaid once a longer term financial solution is put in place. The UK bridging loan market is currently unregulated by the Financial Services Authority (FSA), and as a consequence the Government does not produce any official statistics on the bridging industry.
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Chloe and Sid enjoy a flirtatious relationship and are sorely tempted to stray. Unusually for Sid James, his character is a faithful husband, albeit a cheeky and borderline-lecherous one. Sid and Beattie find that Joey can correctly predict winners of horseraces – he tweets when the horse's name is read out. Sid bets on Joey's tips and makes several large wins – including a vital £1,000 loaned to W.C. when the banks refuse a bridging loan – before Sid is barred by Benny (Davy Kaye) his bookie after making several payouts.
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FAI Chief Executive John Delaney confirmed he gave the association a €100,000 loan to help it through what he said was a short-term cash flow problem. In a statement on behalf of Mr Delaney, the FAI said the "bridging loan" was given in April 2017 and repaid in full to Mr Delaney in June of that year. In a second statement this evening issued by the FAI, Mr Delaney expanded on his comments. He said he acted in the best interests of the Association, at a time, he said, when immediate funding was needed.
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It immediately became apparent that the remainder of the Brentford board had not been informed of the situation. After a tense month of fan protests (led by Supporters' Club chairman Peter Pond-Jones), negotiations and donations amounting to £8,500 (equivalent to £ in ), a six-man syndicate headed by former Plymouth Argyle chairman Ron Blindell took over Dunnett's shares on 23 February 1967 and guaranteed a 12-month bridging loan of £104,000. The following day, Blindell, as chairman, took control of the club. Manager Billy Gray followed Dunnett out of Griffin Park and trainer Jimmy Sirrel took over as manager.
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A bridge loan is a type of short-term loan, typically taken out for a period of 2 weeks to 3 years pending the arrangement of larger or longer-term financing. It is usually called a bridging loan in the United Kingdom, also known as a "caveat loan," and also known in some applications as a swing loan. In South African usage, the term bridging finance is more common, but is used in a more restricted sense than is common elsewhere. A bridge loan is interim financing for an individual or business until permanent financing or the next stage of financing is obtained.
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In a cabinet reshuffle following the nomination of Frank-Walter Steinmeier as candidate for the federal presidency, Zypries was appointed Minister for Economic Affairs and Energy on 27 January 2017. She succeeded Sigmar Gabriel, who took the office of Minister for Foreign Affairs from Steinmeier. During her time in office, Zypries led the government's efforts to save Germany's then second-largest airline Air Berlin. When the company filed for bankruptcy protection in August 2017, she authorized a bridging loan of 150 million euros ($176 million) to allow Air Berlin to keep its planes in the air for three months and secure the jobs of its 7,200 workers in Germany while negotiations with Lufthansa continue.
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It is as yet unknown whether these plants will be affected by the GM cutbacks. The group along with their sister subsidiary, Opel of Germany, was supposed to be sold in their majority to Magna International, an Austro-Canadian company who supply many parts to large car companies, but General Motors cancelled the transaction. UK bus manufacturer Optare received an order from Arriva in November 2008 for the manufacture of 53 buses in a contract worth over £6million, securing 500 jobs at the company's Assembly factory in Cross Gates, Leeds, West Yorkshire and the parts centre in Cumbernauld, North Lanarkshire. UK Van and commercial vehicle manufacturer LDV Group asked the UK government for a £30 million bridging loan to facilitate a management buyout of the group.
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On 11 January 2019, Connect Airways made a £2.2 million cash offer to take over the entire share capital of Flybe, subject to shareholder and court approval. The offer also included the acquisition of Stobart Air shortly before the Flybe takeover. On 15 January 2019, Connect Airways increased its offer by £600,000, and set out improved bridging loan conditions, with £10 million to be released immediately to support Flybe's business, and a further £10 million available. Subsequent funding of £80 million was also confirmed. Flybe Group accepted the £2.8 million offer and noted that its shares had been transferred to a standard listing, effective on 17 January, meaning that shareholder approval for the sale of the group's operating assets, i.e.
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Following his unsuccessful attempt to purchase the club during the 2007–08 season, Carson Yeung returned to complete a deal to purchase Birmingham City. On 20 August, Carson Yeung's Hong Kong Stock Exchange-listed Grandtop International placed a deposit of £3 million ahead of a new proposed takeover bid. This was quickly followed by Yeung's decision to donate £5 million to the club for the purchase of Middlesbrough's Tuncay, but such a gift would have broken HKSE rules, and the player signed for Stoke City instead. The takeover date was put back from October to mid-November, because of a delay to the EGM required to approve the issue of an additional 50% shares, following his capture of a £57m bridging loan to cover the purchase of the club.
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Mr Swindle, from a financial advice firm, passed on a bridging loan to Ms Harrison to buy a second home. She already had a mortgage on her own home. He failed to disclose to her that Ms Harrison’s son would be unable to get a loan to help with the purchase, and that Mr Swindle would profit from making the loan. Afterwards, the value of the property dropped. She sued Mr Swindle, and other members of the firm, for the loss of value of the home’s equity, which resulted from the purchase, arguing that following Brickenden v London Loan & Savings Co [1934] 3 DLR 465, Mr Swindle was liable to restore her to the position she was in when the breach occurred, regardless of whether she would still have made the purchase if full disclosure had been made.
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In 1990, Scargill was accused in a series of Daily Mirror articles of mishandling money donated for the striking miners during the 1984-5 strike, with many of the sources being those who had previously worked with him in the NUM such as Kim Howells, Jim Parker and Roger Windsor. It was alleged that, of the money donated from Libya, Scargill took £29,000 for his own bridging loan and £25,000 for his home in Yorkshire, but gave only £10,000 to the striking Nottinghamshire miners. In addition, it was alleged that he had taken £1,000,000 of cash donated by the Soviet Union for the Welsh miners and placed it in a Dublin bank account for the "International Miners' Organisation", where it stayed until a year after the strike had finished. There was much criticism of Scargill within the NUM from the Welsh and Scottish areas, who briefly considered splitting from the NUM.
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