Alaska Statutes Sec. 44.88.525 - Conditions of Debt Refinancing Guarantee

The authority may not guarantee refinanced debt

(1) unless the refinancing

(A) is necessary to extend substantial debt payments over a longer period of time, thereby improving the applicant's net cash flow and working capital position consistent with the useful life of the assets being refinanced;

(B) assists with short-term debt or cash expenditures when lenders will not extend reasonable longer terms to the applicant; and

(C) creates additional economic opportunity or improves the viability of the borrower rather than just reducing the liability of the lender; or

(2) unless the refinancing is necessary to place a permanent loan subsequent to an interim loan for financing of the project.

Sec. 44.88.530. Applicability of AS 44.88.535 - 44.88.560.

AS 44.88.535 - 44.88.560 apply to new loan guarantees and refinancing guarantees under AS 44.88.500 .

Section: Previous  44.88.500  44.88.502  44.88.505  44.88.510  44.88.515  44.88.520  44.88.525  44.88.535  44.88.540  44.88.542  44.88.545  44.88.550  44.88.555  44.88.560  44.88.570  Next

Last modified: November 15, 2016