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Qatar Comes to [$15B] Rescue as Turkey Moves to Avert Financial Crisis
re: "synergies," wind down, BONUS: commercial paper notes
It total, companies have $217 billion in net foreign-exchange debt, equal to about a quarter [25% of 52%] of gross domestic product, according to central bank data. While officially the bad debt [NONPERFORMING LOAN] ratio at Turkey's banks is just 3 percent, lenders are in the process of renegotiating upwards of $20 billion of loans to try to prevent them from going into default.

Against this backdrop, the nation's banking regulator said late Tuesday that lenders can now extend maturities on or refinance loans, issue new debt to help troubled companies, and seek new collateral [BWAH!] to protect themselves. They can also demand debtors sell assets to repay loans.

familiar territory

Diversity is the key to economic and political evolution.
by Cat on Wed Aug 15th, 2018 at 10:30:43 PM EST
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