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(This March.4 story corrects paragraph three to make clear that GAM Holdings closure of the fund related to concerns about perceptions of supply chain finance rather than about asset valuations)
LONDON (Reuters) - A funding crisis at Greensill Capital could spill over to some of its high-risk borrowers and lead to losses for insurers and banks that have done business with the UK-based supply chain finance firm if its clients default, according to several industry experts and a review of public filings.
Greensill, backed by Softbank Group Corp’s Vision Fund, helps companies spread out the time they have to pay their bills. The loans, which typically have maturities of up to 90 days, are securitized and sold to investors, allowing Greensill to make new loans.
March 05, 2021 CEBU Air Inc. (CEB or Cebu Pacific) signed a P16-billion 10-year term loan facility Friday, March 5, with a syndicate of domestic banks.
This syndicated loan facility is a landmark deal that exhibits the strong partnership between government financial institutions and private domestic banks to support Cebu Pacific who along with the entire airline industry have been severely impacted by the Covid-19 pandemic.
This term loan facility, which was equally participated in by government financial institutions and leading private sector domestic banks, further represents the confidence of these institutions in the recovery of the Philippine economy and the belief that Cebu Pacific will continue to play a leading and vital role in this economic recovery.
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National Assembly s Committee on Budget and Appropriations chairperson Kanini Kega. [Kelvin Karani, Standard]
Members of Parliament have agreed to some of the tough conditions set by the International Monetary Fund (IMF) including the scrapping of tax breaks and exemptions.
In a report by the Budget and Appropriations Committee on the Budget Policy Statement for 2021-22 and the Medium Term Debt Management Strategy, the lawmakers also asked the National Treasury to expedite restructuring of highly indebted State corporations, a condition that had earlier been issued by the IMF for the country’s access to a Sh262 billion facility.
The Vasantrao Naik Shet Swavlamban Mission (VNSSM) President Kishore Tiwari, accorded a Minister of State status, formally submitted the 10-point charter to Chief Secretary Sitaram Kunte. On h