Creditor bank’s doubts delay urgent loan to Pescanova
Thursday, June 20, 2013, 02:10 (GMT + 9)
Complications continue for the multinational firm Pescanova. While the settlement of the agreement for a EUR 55 million loan to be granted was expected to take place on Monday, Bankia expressed many doubts about the real situation of the group.
Several banks stated they were willing to grant the loan to the company for it to overcome the critical financial situation, but Bankia’s uncertainty has now blocked the completion of this funding.
According to banking sources consulted by the newspaper La Voz de Galicia, Bankia and Deutsche Bank are now reluctant to take part in the loan.
While the loan process is ensured not to be stopped, there are fears that Bankia’s position can generate a "possible contagious effect," which hinders the progress of the agreement.
The German bank Deutsche Bank, for example, set the condition that in the group of entitie... FULL STORY