Word: repays
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Battling against the odds to keep Intra together, Bedas' directors last week petitioned a Lebanese court for three years' grace to repay their depositors without forced liquidation of assets. Bedas himself began a desperate hunt in New York for enough cash to keep control. Scenting the possibilities of snagging valuable property at distress prices, the Soviet Union turned bargain hunter, sent out feelers but backed away at the hefty asking price. U.S. Shipping Tycoon Daniel K. Ludwig, who recently tried unsuccessfully to merge his tiny Lebanese International Airways with Bedas' bigger line, expressed interest in buying stock...
...contractor, France will not have to ante up the huge cash bonuses with which the majors traditionally lubricate their concession agreements. In return, France agreed to bankroll the whole project, which may cost $50 million; the Iranians need repay the loan only if and when oil is found. Though it all adds up to a big gamble for France at no risk to Iran, E.R.A.P. spokesmen touted the deal as a long stride toward a "competitive French government oil company, flying French colors and making France completely independent of the majors...
...NATIONAL DEFENSE LOANS. They permit students to borrow up to $1,000 a year and to delay making any repayments until nine months after leaving school. Students then get up to ten years to repay-at a low 3% interest. This year, some 500,000 students are borrowing $225 million...
Cashed for Gold. Last week the U.S. upped its credit ante to Britain by $600 million. The new arrangement would permit the British, using dollars, to repay what they have drawn from Continental banks. Thus it also raised the possibility that some of those dollars would be cashed in for gold. The U.S. Treasury last week noted that France, with gold purchases of $221 million, was the only nation to convert dollars into gold "significantly" during the second quarter of 1966. To allow the U.S. to continue as savior of the pound and at the same time to protect...
...loan, large or small, to an individual at 5% interest or less? No questions asked? Without putting up security? And a lifetime to repay...