$US15M line of credit
Countrywide Building Society has arranged a ?USISM Eurodollar facility for future lending in this country on commercial properties. Countrywide said the facility, which is unsecured, is to be provided by Marac Merchant Banking Group and underwritten by Marac Hong Kong, Ltd, Security Pacific Australia, Ltd, and the State Bank of South Australia. The chief executive of Countrywide, Mr Peter Martin, said that the facility arranged by his organisation is in response to demand for commercial lending. “It is additional to our ongoing commitment to residential lending. Eurocurrency lending is now an established part of the lending portfolios of most major financial institutions,” he said. Mr Martin added that Countrywide will not be at' risk in the event of any fluctuations in exchange rates. “This risk is passed on to the commercial borrowers,” he said.
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Bibliographic details
Press, 4 July 1985, Page 28
Word Count
138$US15M line of credit Press, 4 July 1985, Page 28
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