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Indeed, £5m of the debt is repayable in October 2008.
Securities with very short maturity periods are constantly repayable in money and thus have maximum liquidity.
Lilly will also pay $25 million upfront and lend Isis $100 million, repayable in cash or stock after four years.
The terms are not for the faint-hearted: loans are due in two to five years, are repayable in dollars and bear interest rates of 15-18%.
Domestic debts either would be converted to a devalued national currency, inflicting severe losses on creditors, or would be repayable in euros, bankrupting debtors.
In Brazil's shopping centres, exhortations to buy on credit, even for pairs of socks (repayable in three easy instalments), have become increasingly common.
Similar(38)
Whereas the state once claimed that residents owed some $154 million, it will now accept $57 million, which is repayable starting in 2014, he said.
Some provinces, such as Newfoundland and Labrador, have completely eliminated repayable loans in favour of non-repayable grant systems.
Still, while barred from offering athletic scholarships, colleges may give athletes need-based financial aid packages that have more grant money and less in repayable loans than those offered to nonathletes.
He said that if, like many of those enrolled, you do not expect to earn more than £21,000 a year – the threshold at which student loans are now repayable – then £11,000 in loans and non-repayable grants for living is simply free money.
The programme makers received £215,000 in repayable business funding from the Welsh government.
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