chennaiguuy
Senior Member
Joined: Apr 2008
Posts: 22588
Member Profile - 19 Jun 2009 05:25:18 GMT Report for Abuse
Can our Accounts Student SlMate explain why GOSL got a loan for 150 Million USD in June had to pay 125 Million USD this year & had to pay the same amount twice in next two years ?
What kind of Interest does this work out to ?
Lol !
Sri Lanka has repaid 125 million US dollars from a dollar loan arranged by Standard Chartered Bank last year, as lenders exercised an option, Central Bank Governor Nivard Cabraal said.
The Standard Chartered arranged a 150 million US dollar loan on June 13, under 'club deal' priced at 250 basis points above the London Interbank Offered Rate.
'They (lenders) wanted 125 million and we have repaid them,' Cabraal said.
The 3-yearl loan had an option for lenders to get the cash at the end of each year.