This is not correct. They repaid principal of Euro450k in each month. They also paid monthly interest on the loan facility.
They said it in the original refinancing announcement. It was detailed in the EGM notice of meeting. They clearly said it in the quarterly update. It is how normal commercial loans work.
Whereas your home loan has the same amount paid each month which is inclusive of principal and interest, most commercial term loan facilities (if they consist of principal repayments, rather than a term bullet repayment) consist of an interest calculation and payment, which changes each month, plus a principal payment each month (which is usually fixed). As principal is repaid, the interest payment reduces each month.
For anyone to suggest otherwise (as represented several times in this chain) is blatantly wrong and attempting to mislead readers (and shows a lack of understanding of commercial loans).
Regards
Marv
DISCLOSURE: I hold plenty of CM8.
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