“Toxic Loan”: St. Etienne finds a final deal

"Toxic Loan": St. Etienne finds a final deal

The City of St. Etienne said on Thursday it was free of the last toxic loan taken in 2007. Bank has reached an agreement with Defa on a loan of 22 22 million at an interest rate.

The municipality says it found it earlier in the week The agreement with Irish Bank Depf. to convert 4.70% at a fixed rate in 2007 was taken in 2007 and extended until 2042. Although this structural lending has remained at 0% since its inception, it is likely to be highly volatile by 2020, based on the evolution of the equivalence between the Euro / Swiss Franc and the Euro / Dollar.

Our councils and city services estimate that the maximum risk we expose is മൂല 120 million, excluding capital.“Per Pardrio announced at a press conference.”We have agreed with Defa at a rate of 4.70% to repay 17.5 million euros in capital.“, He added.”The bank has agreed to acquire 8.4 million eurosEarly termination compensation will be approximately $ 30 million.

  • St. Etienne, whose share of “toxic” loans exceeded 60% of debt in 2008, reduced this rate to 27% in 2014 at the end of the term of former Socialist Senator-Mayor Maurice Vincent (2008-). 2014), Association Public Actors Against Toxic Loans (Offset).
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