Two at The Business.
The Guardian on drugs and why hasn’t Paragon already gone bust?
Timmy Elsewhere
November 21st, 2007 · 2 Comments
Tags: Timmy Elsewhere
Tim Worstall
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2 responses so far ↓
1 Kay Tie // Nov 21, 2007 at 3:56 pm
Paragon isn’t bust because:
1. It’s debt rolls over at a different time to NR.
2. It has fully underwritten its rights issue.
3. It matched the timeframe of its borrowing to its lending (e.g. 10 year fixed rate mortgages are matched by 10 year bonds).
2 Matthew // Nov 22, 2007 at 2:47 pm
Plus this?
Cash for new lending for Paragon is also financed by a £2.3 billion “warehousing” facility from a banking syndicate. And it has a £280m corporate lending facility due for repayment in February.
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