Subordinated
loan
If certain
conditions are met, a second
tranche of $2 billion is
available to the company
The loans
are to be treated as subordinated
debt.
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The loan
bears simple interest of 4.5% for
five years, after which it is
compounded.
First
repayment date is March 31, 2003
Loan,
including capitalized interest,
is payable in 40 equal quarterly
consecutive, amortization
payments, representing a 10-year
amortization.
Purchased
43.8% of NCB for $947.8 million
FINSAC
Appointed Directors:
Bernard Panton, Leighton
McKnight, Michael Hylton,
Marguerite Orane, Lenice Barnett,
John Thompson
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