Yes they receive 52m EUR, and interest is paid upfront.
This deal is done.
The broker has taken the 2m EUR, HSBC has taken it's underwriting fee 2.38m EUR and GMC will receive the money.
Now what they do with that money is not my concern.
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- Ann: Gulf secures Euro 52 Million Loan Facility
Ann: Gulf secures Euro 52 Million Loan Facility, page-124
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