fp
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Post by fp on Dec 21, 2016 19:15:12 GMT
savingstream will 131 repay, if we want some we need to prefund via the pipe line to 156 or will it be rolled into 156? Please confirm? I understand it is a different bit of land but wanted to check? Have you checked the new pipeline loan? Purpose of Borrowing
The purpose of this loan is to refinance the current bridge loan. The proposed purchase of additional land to the north of the existing security (detailed under PBL131) is currently on hold due to ongoing negotiations and legal issues with the vendor. This may still go ahead in the future but we thought it best to repay the existing bridge (PBL131) pending the final outcome.
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ferdy
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Post by ferdy on Dec 21, 2016 23:45:19 GMT
savingstream will 131 repay, if we want some we need to prefund via the pipe line to 156 or will it be rolled into 156? Please confirm? I understand it is a different bit of land but wanted to check? Have you checked the new pipeline loan? Purpose of Borrowing
The purpose of this loan is to refinance the current bridge loan. The proposed purchase of additional land to the north of the existing security (detailed under PBL131) is currently on hold due to ongoing negotiations and legal issues with the vendor. This may still go ahead in the future but we thought it best to repay the existing bridge (PBL131) pending the final outcome.In the latest SS Pipeline Update email sent today, it is stated PBL156 - Manor Quay, Hull. The existing PBL131 loan will be repaid in full once we have launched PBl156.
To my mind that is somewhat vague. How long after the launch of PBL156 will PBL131 be repaid? Within the time period for INPL ? Normally loans are repaid BEFORE a new loan not after ! Confused !
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nick
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Post by nick on Dec 22, 2016 0:33:24 GMT
Have you checked the new pipeline loan? Purpose of Borrowing
The purpose of this loan is to refinance the current bridge loan. The proposed purchase of additional land to the north of the existing security (detailed under PBL131) is currently on hold due to ongoing negotiations and legal issues with the vendor. This may still go ahead in the future but we thought it best to repay the existing bridge (PBL131) pending the final outcome.In the latest SS Pipeline Update email sent today, it is stated PBL156 - Manor Quay, Hull. The existing PBL131 loan will be repaid in full once we have launched PBl156.
To my mind that is somewhat vague. How long after the launch of PBL156 will PBL131 be repaid? Within the time period for INPL ? Normally loans are repaid BEFORE a new loan not after ! Confused ! In the past funds raised from a new loan to refinance existing loans are settled same day - I expect no different on this occasion.
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Post by savingstream on Dec 22, 2016 9:11:19 GMT
It will be settled on or around the same time as going live with the new one. Certainly within INPL limits.
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SteveT
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Post by SteveT on Dec 22, 2016 10:38:27 GMT
Now repaid.
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