Sentences with phrase «legacy debt»
"Legacy debt" refers to a financial burden or obligation that has been inherited from the past. It signifies existing debts or liabilities that a person or organization currently owes, often as a result of previous actions or decisions. Full definition
Local authorities have no financial liability and these days no historic liability for legacy debts owed by schools.
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That would prevent legacy debt from getting isolated in its own, dying market.
What he did not add was that, these are legacy debts accrued over a period spanning four governments under the Fourth Republic.
In the same month, we announced a $ 2.4 million bond to clear legacy debts in the energy sector, translates that to Ghc12billion.
The SPV established a bond programme to issue Cedi - denominated medium - to - long - term amortising bonds on the back of ESLA receivables to repay legacy debt to the tune of up to GH cents 10,000.00 million, he said, adding: «The first tranche of bonds issued under this programme, comprised a 7 - year (GH cents 2,408.60 million) and a 10 - year (GH cents 2,375.35 million) bond with coupons of 19.0 percent and 19.5 percent respectively, for a total of GH cents 4,783.97 million.»
«While the hospitality sector has recently experienced improvement in occupancy and room rates nationwide, many properties are still saddled with legacy debt issues,» said Jason Jarjosa, managing partner at Bloomfield Capital.
We await word on what they will do with this important levy which represents the most viable option to pay down the legacy debts which had crippled the country's utilities for years.
«This increased generation in addition to the energy structure levy, and ongoing works to restructure the legacy debt of the power utilities has helped to stabilize the power situation in our country.
E.S.L.A Plc will continue to issue bonds to completely pay off the legacy debts,» Mr Ofor - Atta noted when he presented the 2018 budget to parliament on Wednesday, 15 November.
«But charter schools didn't contribute to that legacy debt, nor can they raise funds from local taxpayers,» McGee says.
The loan, collateralized by a 125 - unit hotel property, enabled the borrower to capitalize on a substantial discounted payoff of the legacy debt.