skybluetony176
Well-Known Member
Like Astute said.
So who pays the loan back? If said Koc Holdings pull out - who pays it back? Or would it be defaulted?
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Well, everything I’ve read on it says that the loan was made to Ford. No mention of Koc Holdings. So you can make your own mind up but I would suggest that Ford are responsible for the loan whether the joint venture with Koc lasts 10 minutes or a millennium.
This is from the EIB website “Loan repayment is normally on a semi-annual or annual basis. Grace periods for capital repayment may be granted for a project’s construction phase.” Not an expert and someone else is sure to know better than me but the final sentence in that quote suggests to me that the loan was used for cash flow to bankroll the construction phase. If my assumption is correct that would suggest that the loan has already been paid back and you’re worrying yourself about nothing. Could be wrong though.
Edit. I was wrong. The loan is due to be paid back in 2022 from what I’ve just read.
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