The Government's
According to the plan announced earlier in the week, the Government will invest about
Speaking to reporters this morning,
Noting that the rescue package was designed in such a way as to facilitate the Government's exit, he said the bridging loan has an availability period of 12 months from the day the package was announced.
"If they need to use the money they can drawdown, but they have to repay us within 18 months with interest. As the bridging loan is available for a limited period of 12 months only, so by that design, the bridging loan itself has an expiry date and has an exit mechanism."
Regarding the preference shares,
"The coupon rate for the first three years is 3%, the fourth year 5%, and then 7% and 9%. Given currently the liquidity in the market is very ample, generally speaking, 7% or 9% coupon rate is rather high in terms of financial costs.
"So the design of this dividend rate applicable to the preference shares gives the incentive to
.
(C) 2020 M2 COMMUNICATIONS, source