Hi Ddog157,
A reasonable set of speculations IMO and a welcome relief from the endless repetitive dribble we are subjected to.
The sequence of events you describe seems expected but often for the following reasons;
1. Senior debt (and especially senior debt from an export (credit agency) usually has conditions precedent.
2. Part of those conditions precedent is usually that the lendee (LPD) secures an agreed amount of equity (or project level funding) so that the future balance sheet is within agreed ratios.
3. Drawdown of the senior debt is only possible after conditions precedent are satisfied.
There can often be an approval “in principle” but a delay in the first drawdown of senior debt. It’s not delayed for nefarious reasons but rather because the conditions for approval already included a protection against the risks that you rightly identify.
Happy to be corrected. Hopefully the forum chat can improve.
Go the slow ‘pus
AM
Hi Ddog157,A reasonable set of speculations IMO and a welcome...
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