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Equity - CCN Saga
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VituVingiSana
#1 Posted : Friday, August 10, 2012 12:51:51 AM
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Joined: 1/3/2007
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Location: Nairobi
Will Equity need to provide for this loan?

http://www.businessdaily.../-/ptuy6wz/-/index.html

Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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sparkly
#2 Posted : Friday, August 10, 2012 7:59:05 AM
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Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
VituVingiSana wrote:
Will Equity need to provide for this loan?

http://www.businessdaily.../-/ptuy6wz/-/index.html



CCN has not defaulted and is not bankrupt. I dont see need to provide.
Life is short. Live passionately.
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gmg
#3 Posted : Friday, August 10, 2012 8:05:20 AM
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by the way the loan is secured by some properties which to my own estimates are worth more than 5 billion. A bank always ensures it covers itself in case of such a loan. CCN has many options it can transfer one estate to EQuity to settle the debt and Equity will be very happy.
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StatMeister
#4 Posted : Friday, August 10, 2012 8:53:45 AM
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Joined: 5/23/2010
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Location: La Islas Galápagos
A bank calling government guarantees or disposing government assets as collateral? Just one word, suicide.
A bad day fishing is better than a good day at work
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VituVingiSana
#5 Posted : Friday, August 10, 2012 9:48:30 AM
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As I understand it, local authorities (in Kenya) cannot pledge properties as collateral. This is to forestall shady deals where a 'loan' is taken against a prime property which is then 'foreclosed' on. There is no intention to pay the loan since the aim is to 'grab' the property.

@gmg - Where did you read or can you provide any info that a property has been used to collateralize the loan?

@sparkly - Not defaulted yet. If the 5bn loan has an interest rate of 24% = 1.2bn/year in interest = 200mn/month. What about principal payments?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mlennyma
#6 Posted : Friday, August 10, 2012 10:06:10 AM
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Joined: 7/21/2010
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Location: nairobi
Some banks have criminal angles when looked closely.
"Don't let the fear of losing be greater than the excitement of winning."
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gmg
#7 Posted : Tuesday, August 14, 2012 2:16:51 PM
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Joined: 3/17/2009
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kanju paying interest of ksh 12Million daily,http://www.businessdailyafrica.com/Corporate+News/Waititu+blows+the+whistle+on++planned+sale+of+Nairobi+estates+/-/539550/1478498/-/item/1/-/ukaj0h/-/index.html
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Mucene
#8 Posted : Tuesday, August 14, 2012 4:09:26 PM
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Joined: 8/4/2012
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Location: Kenya
http://www.businessdaily.../-/142gwtw/-/index.html

I thought the councils are not supposed to dispose or otherwise transfer properties until the county governments are in place
If you don't want to go to plan B have a good plan A.
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VituVingiSana
#9 Posted : Tuesday, August 14, 2012 11:03:52 PM
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Joined: 1/3/2007
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Location: Nairobi
Mucene wrote:
http://www.businessdailyafrica.com/Corporate+News/Waititu+blows+the+whistle+on++planned+sale+of+Nairobi+estates+/-/539550/1478498/-/142gwtw/-/index.html

I thought the councils are not supposed to dispose or otherwise transfer properties until the county governments are in place
CCN is paying Equity 12mn/day in interest!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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youcan'tstopusnow
#10 Posted : Tuesday, August 14, 2012 11:30:56 PM
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Joined: 3/24/2010
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Location: Black Africa
VituVingiSana wrote:
Mucene wrote:

http://www.businessdaily.../-/142gwtw/-/index.html

I thought the councils are not supposed to dispose or otherwise transfer properties until the county governments are in place
CCN is paying Equity 12mn/day in interest!

Yipeeee!smile
GOD BLESS YOUR LIFE
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VituVingiSana
#11 Posted : Wednesday, August 15, 2012 12:15:57 PM
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Joined: 1/3/2007
Posts: 18,129
Location: Nairobi
youcan'tstopusnow wrote:
VituVingiSana wrote:
Mucene wrote:

http://www.businessdaily.../-/142gwtw/-/index.html

I thought the councils are not supposed to dispose or otherwise transfer properties until the county governments are in place
CCN is paying Equity 12mn/day in interest!

Yipeeee!smile
LOL, lakini... that train might stop unless CCN gets its act together! Good for ekweetee!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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gmg
#12 Posted : Wednesday, August 15, 2012 2:18:47 PM
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Joined: 3/17/2009
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Principal repayment is 350million every three months whereas the interestis 12million a day.
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