Happier diner Posted March 25, 2023 Share Posted March 25, 2023 59 minutes ago, Andy Onchan said: Only Treasury AFAIK. So the loan that was taken out that treasury didn't know about was from treasury. Quote Link to comment Share on other sites More sharing options...
John Wright Posted March 25, 2023 Share Posted March 25, 2023 5 minutes ago, Happier diner said: So the loan that was taken out that treasury didn't know about was from treasury. No. It was from Barclays, was at a high interest rate, and was paid off and refinanced from Treasury at a lower rate and over a longer period. 1 3 Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted March 25, 2023 Share Posted March 25, 2023 Happier Diner is just busy doing his/her job which is to deflect, distract and obfuscate. Some Govt workers are still in on a Saturday morning.... Quote Link to comment Share on other sites More sharing options...
Banker Posted March 25, 2023 Share Posted March 25, 2023 26 minutes ago, Andy Onchan said: And rising for 22/23 and probably for 23/24 as well. It’s fixed for existing loans as stated in accounts , the last refinancing was from the £400m loan at 1.7%, that was a great deal treasury did as the rates now would be over 4% now Quote Link to comment Share on other sites More sharing options...
CallMeCurious Posted March 25, 2023 Share Posted March 25, 2023 1 hour ago, John Wright said: No. It was from Barclays, was at a high interest rate, and was paid off and refinanced from Treasury at a lower rate and over a longer period. So has anyone ever admitted what the overall cost of this farce was? Or even a date for when the loan will be repaid? Given they are falling over themselves to spend money on windymillers and new meters. 1 Quote Link to comment Share on other sites More sharing options...
Happier diner Posted March 25, 2023 Share Posted March 25, 2023 (edited) 2 hours ago, cissolt said: If you scroll back a few pages you said it was due to the current gas price. Have you changed your mind? Or realised that this is a debt repayment due to poor decision making? I haven't changed my mind at all. It's a a balance sheet. There are out goings. Fuel and loan payments being significant ones. Edited March 25, 2023 by Happier diner Quote Link to comment Share on other sites More sharing options...
John Wright Posted March 25, 2023 Share Posted March 25, 2023 43 minutes ago, CallMeCurious said: So has anyone ever admitted what the overall cost of this farce was? Or even a date for when the loan will be repaid? Given they are falling over themselves to spend money on windymillers and new meters. MUA water infrastructure loan is due to be repaid, or refinanced, by 29 March 2030 MUA electric infrastructure loan is due to be repaid, or refinanced, by 14 August 2034 Quote Link to comment Share on other sites More sharing options...
Happier diner Posted March 25, 2023 Share Posted March 25, 2023 1 hour ago, John Wright said: No. It was from Barclays, was at a high interest rate, and was paid off and refinanced from Treasury at a lower rate and over a longer period. That's makes sense. I was starting to think I had dreamt it. Quote Link to comment Share on other sites More sharing options...
Happier diner Posted March 25, 2023 Share Posted March 25, 2023 1 hour ago, Non-Believer said: Happier Diner is just busy doing his/her job which is to deflect, distract and obfuscate. Some Govt workers are still in on a Saturday morning.... In what way? I'm not a government worker. I'm not sticking up for anyone. Quote Link to comment Share on other sites More sharing options...
cissolt Posted March 25, 2023 Share Posted March 25, 2023 On 3/13/2023 at 7:39 AM, Happier diner said: There was a debt, but if you look at the annual report the yearly loss had come right down to breaking even and they were even paying some debt back. The gas price issue has set that back by about 10 years and undone any gains. The latest rises IMO are all about gas price. So are the latest rises all about gas price? Or repaying debt? Treasury minister says the later. Quote Link to comment Share on other sites More sharing options...
Happier diner Posted March 25, 2023 Share Posted March 25, 2023 20 minutes ago, cissolt said: So are the latest rises all about gas price? Or repaying debt? Treasury minister says the later. They are about making sure that there is no deficit in cash so that the MUA can do both of those things. It's not either or is it? If it became either or they would have to drop the loan repayments because buying gas is essential to the business. Quote Link to comment Share on other sites More sharing options...
Blade Runner Posted March 25, 2023 Share Posted March 25, 2023 52 minutes ago, John Wright said: MUA water infrastructure loan is due to be repaid, or refinanced, by 29 March 2030 MUA electric infrastructure loan is due to be repaid, or refinanced, by 14 August 2034 Repaid, or refinanced? If I understand you correctly then, what you are saying is the loans are interest only payments and at the end of their term the amount borrowed, say half a billion is still owed? Quote Link to comment Share on other sites More sharing options...
John Wright Posted March 25, 2023 Share Posted March 25, 2023 5 minutes ago, Blade Runner said: Repaid, or refinanced? If I understand you correctly then, what you are saying is the loans are interest only payments and at the end of their term the amount borrowed, say half a billion is still owed? Pragmatically, if they haven’t been paid off by the due date they’ll have to be refinanced. Quote Link to comment Share on other sites More sharing options...
Banker Posted March 25, 2023 Share Posted March 25, 2023 19 minutes ago, Blade Runner said: Repaid, or refinanced? If I understand you correctly then, what you are saying is the loans are interest only payments and at the end of their term the amount borrowed, say half a billion is still owed? But all due to IOMG who of course have the £400m loan Quote Link to comment Share on other sites More sharing options...
CallMeCurious Posted March 25, 2023 Share Posted March 25, 2023 1 hour ago, John Wright said: MUA water infrastructure loan is due to be repaid, or refinanced, by 29 March 2030 MUA electric infrastructure loan is due to be repaid, or refinanced, by 14 August 2034 Wonder how much that lot has cost including fees and the interest paid to Barclays. Quote Link to comment Share on other sites More sharing options...
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