Your on it @davycrockett
Payment by end of Jan. 24. Does anyone know who the owners of RNC Nominees are? It looks like we are going to find out soon enough.
The only references I can find are
2022 Annual Report- The RNC Nominees Facility Agreement is secured by a first ranking general security agreement over all present
and after acquired property of Keybridge Capital Limited.
The maturity date of 28 July 2022 was extended to rolling monthly maturities until further notice.
The interest rate is fixed at 2.0% per month.
2023 Annual Report- The interest rate is 12.5% per annum over the 30 day BBSY fixed at 1.2% per month.
It looks like the RNC nominees facility has been on monthly rollover since July 22 so their patience is running thin with KB. The rates, given RNC have 1st mortgage on KB assets is up there.
It does beg the question if KB was on monthly rollovers with RNC and the interest is higher than the facility KB offered MEL why would you enter into a 3 year deal with MEL? If KB are charging MEL 10% and the cost of their own funds is 16% their calculator is broken.
Your on it @davycrockett Payment by end of Jan. 24. Does anyone...
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